Customers are loyal to existing brands (Life insurance industry)

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It takes time and money to build a brand. When companies need to spend resources building a brand, they have fewer resources to compete in the marketplace. These costs positively affect Life insurance industry. … "Customers are loyal to existing brands (Life insurance industry)" is an easily defendable qualitative factor, so competing institutions will have a difficult time overcoming it. This qualitative factor will lead to an increase in costs.

Five Forces Analysis Survey This statement has a significant impact? Has a positive impact over the long term? Has a negative impact over the long term? Has a positive impact over the short term? Has a negative impact over the short term? This statement leads to reduced costs? This statement leads to increased costs? This statement leads to increased profits? This statement leads to decreased profits? Easy to defend this advantage? Easy to overcome this disadvantage? Difficult to defend advantage? Difficult to overcome this disadvantage? Affected Investments

Threat of New Competitors: Customers are loyal to existing brands (Life insurance industry)
It takes time and money to build a brand. When companies need to spend resources building a brand, they have fewer resources to compete in the marketplace. These costs positively affect Life insurance industry.

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