Applied mathematics in Engineering, Management and Technology 3(3) 2015:

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1 Examination and inspection of relationship between brand value and customer's satisfaction by reliance to brand according to Hay model and coworkers.(case study: Mihan insurance in Saveh city). Farzad Fakhimi¹, Hamid-Reza Saiid Niya², Seyyede Leyla Baghaii³* 1. Assistant Professor and learned and scientific board member of Islamic Azad university, North- Tehran unit. 2.Assistant professor and scientific board member of Islamic Azad university, North- Tehran unit. *3. Senior student in commerce- management course with marketing tendency in Islamic Azad university, North- Tehran unit. Abstract Nowadays, brand isn't only an efficient means for managers in competitive markets. Brand is a strategic need or necessity that help organization to create more value for customers and also to produce and establish permanent competitive preferences or advantages and to gain customer satisfaction. According to this subject we have tried in this study to inspect/ examine the relationship between brand value and customer satisfaction by reliance to brand in Mihan insurance company in Saveh city. This model utilized in this study, extracted / taken from Hay and coworkers model. For this purpose we have used descriptive method from measurement kind. Information and inputs of investigation was gathered through questionnaire from 342 persons of Mihan insurance company customers and for the purpose of analysing inputs, we used descriptive statics and deductionalstatics method (pierson relational coefficient test, regression and structional equations). In recent study, two softwaresi-e Spss and lisrel have been used. The results obtained from inputs' analysis not only show the hypothesis correctness and accuracy of research but also the existence of relation ship between variables. Keywords: commercial name value, customer satisfaction, reliance and trust to commercial name, Mihan insurance company. Introduction Nowadays, many organizations believe that one of the most valuable their assets is product brand and their services. Many investigators and researches have pointed to this subject that establishing and producing a strong brand is one of the key- factors to gain competitive advantage and preference and long- lasting survival and permanence in market (Santos et al 2013). Brand and commercial name is one of the most important marketing subject that all firms and companies Face to it such as insurance companies. The importance of this subject is to the extent that brand management has been changed to an independent course in scientific meetings. In recent years, investigators concluded that real value of products and services for firms and companies isn't inside of products and services but this value exists in thought of real and potential customers and brand brings about real value in the thought of customers. Really, brand is something more than a product what separates and distinguishes a branded product from an unbranded product, and value / prises it. All perceptions and emotions of customers about charactristics and quality of performance, is constitutional reason and perceived charactristics from brand- related company. (keler 2008) On the one hand one of the factors influencing on customer satisfaction is commercial name. In the sight of customers, commercial name is considered an important element from a product. The image of commercial name in customers' mind is very important for marketing. (Shafi'i 1386) Life and survival if all organizations especially in a situation that strong competitors have entered in market, depends on long- lasting customer's satisfaction and attention to brand special value is considered very necessary among customers. 341

2 Brand value meaning Brand perceived value means customer judgement about brand dimensions importance and preference that compels or forces customer to select buying services or products and it also is consumer's evaluation about general preferences of a product. Customer's satisfaction meaning and concept Satisfaction is an efficient response and it is obtained after an expectable and insecure experience that contain an observing process. After performance evaluation all customers compare results with their expectations before buying or reuse, and any kind difference and discrepancy results in insistence. The meaning of reliance on brand Reliance on brand is a psychology variable from the viewpoint of customer that leads to attribution of some hypothesis or thoughts and opinions with regard to being valid and authentic, honesty and truthfulness and generosity to brand with customers. Investigation hypothesis hypothesis 1: There is meaningful relation between perceived value and customer's satisfaction hypothesis 2: There is meaningful relation between customer's satisfaction and reliance on brand. hypothesis 3: There is meaningful relation between perceived value from brand and reliance on brand. Research methodology Recent study is descriptive- measurement kind from the viewpoint of nature and quality and it is applicational from the viewpoint of goal. Statistical society in recent study consists of all customers of Mihan insurance company. In order to determine minimum necessary sample volume / size, the second formula of kekran has been used. Information gathering in this study and research was carried out in two ways i.elibrary and ground. In order to collect inputs we used questionnaire that the first section consists of population information (gender, age, education level and...). The second section of questionnaire consists of 13 questions in answer package in 5 degree scale of Likert spectrume for measuring perceived value of brand, commercial name trust, and customer's satisfaction. Questionnaire measurement has been verified through examining contents with teachers. Also for making permanent questionnaire, alfa coefficient has been calculated that it is 0.84 after correcting and reforming questionnaire. With regard to alfa ranges between 0-1, obtained value is in high level with a viewpoint of permanence. Investigation findings: In order to examine and inspect research hypothses, first of all we use pierson relational coefficient to determine and examine simple relationship between variables, and then we use structural equations by software to determine influence level of provident and near- sighted variables on hidden variables. 342

3 Table 1: pierson relational coefficient level between compositors. compositors / authors pierson relational coefficient 1- brand value and customer's satisfaction customer's satisfaction and reliance on brand brand value and reliance on brand Pierson relational coefficient results in table 1 indicate a meaningful and significant relationship between inspected variables. Among these, the greatest coherence is between customer's satisfaction and reliance on brand by r=0.447 and the least coherence is between brand value and customer's satisfaction by r= Figure 1: Measurement model of relationship between examined compositors by using structural equations analysis in meaningful and significant number state Brand value Customer's satisfaction Reliance to brand With regard to exit in this graph, All obtained coefficients are meaningful because their meaningful test value is higher and greater than Table 2: indicators of model by using structural equations' software Row Model index Permissible range Calculated value of model result AGF1 IF1 CFI RMSEA X2 below 0.08 X2 / df below Results indicate that this model enjoy very good Table 3: The Results of hypotheses test Hypothesis β standard parameter Criterion error T result 1- There is meaningful relation between commercial name and confirmation customer's satisfaction 2- There is meaningful relationship between customer's satisfaction and confirmation trust to commercial name 3- There is meaningful relationship confirmation 343

4 between commercial name and reliance on commercial name. Being significant and meaningful of standard coefficient depends on positive and direct effect between compositors of each theory. In other words, by changing variance, first compositor of each theories change relative to β in second compositor variance. Conclusion, discussion and suggestions First hypothesis: Analysis results of structural equestion indicated that there is positive and significant relationship between commercial name and customer's satisfaction. If perceived value of a brand is greater, so customer's satisfaction is also greater. Hypothesis result by investigation result (Momeni and Mohammadi in the year 1389), in examining brand value effect on customer's loyalty about brand (Samsung goods and services) that indicated there is significant and positive relationship between perceived value of brand, customer's satisfaction and customer's loyalty to brand, they are coordinate. According to obtained results from this theory, it is suggested that a company keep and conserve customers survival while increasing their services quality. Second hypothesis: Analysis results of structural equations using lisrel software showed in table 3 that customer's satisfaction has significant and meaningful and positive effect on reliance to commercial name, and whatever customers satisfaction be higher, so their trust and reliance on commercial name increases. and vice versa. Green and Ores (2009) carried out an investigation in Germany under the title of comparison between customer's loyalty in Familial commerce with un- Familial commerce: The role of company image, trust and reliance and satisfaction and they concluded that customers satisfaction directly was influenced by store image and indirectly by trust and reliance. So second theory is coordinate with aformentionedresearch result. So it is suggested that company improve and increase quality and trust to its goods and services in order to establish and create valid commercial name and to do its promise to customers with regard to customers' need. Third hypothesis: Structural equations results indicated that commercial name value has positive and direct and meaningful effect on commercial name trust and investigation theory was confirmed. Theory result was coordinate to MandanaMomeni and Ehsan Mohammadi research result that indicated that there is meaningful and positive relationship between brand value and customerssatisfaction and trust. So it is suggested that company increases customers trustfulness in order to improve its commercial name value relative to give services proportionate to customers needs. Also in order to create high trustfulness in customers it can use wonderful experience and services in competitive market with other companies. Research limitations - Lack of research results' generalization to other companies because of case study and meaningful selection of statistics samples - Research performance in other time and period, it possibly doesn't have similar results. 344

5 References -He, H., Lee, Y., & Harris, L. (2012). Social identity perspective on brand loyalty. Journal ofbusinessresearch, 65, Keller, K. L. (2008), "Strategic Brand Management-Building, Measurig, and Managing Brand Equity (3rd ed.,)", United States: PEARSON - Prentice Hall. -Orth U.R. & Green M.T. (2009). Consumer loyalty to family versus nonfamilybusiness: The role of store image, trust and satisfaction, JournalofRetailling and Consumer Service, 16(4), Santos-Vijande, María Leticia, del Río-Lanza, Ana Belén, Suárez-Álvarez, Leticia, &Díaz-Martín, Ana María. (2013) the brand management system and service firm competitiveness. Journal of Business Research, 66(2) Kapferer, J. N. (2008), "The New Strategic Brand Management: Creating and Sustaining Brand Equity Long Term, (4th ed.), London", England: Kogan Page Oliver,R.L.,(1999)whence consumer loyalty? Journal of marketing,rol.63.special issue, pp Gorvize,p.and korchia, M.(2002); proposition d'une echelle de mesuremultidimensionnelle de la confiancedans la marque,recherch et applications en marketing,vol,17,no,3,pp,

Zahra Ghorbani Nasrollahabadi and Marhamat Hematpour Rasht Branch, Islamic Azad University, Rasht, Iran Author for Correspondence

STUDYING THE EFFECTS OF TRUST, QUALITY OF THE SERVICES AND THE VALUE OF THE SERVICES ON CUSTOMERS' SATISFACTIONAND LOYALTY (CASE STUDY: IRAN INSURANCE CO. OF RASHT CITY) *Zahra Ghorbani Nasrollahabadi