IJASOS- International E-journal of Advances in Social Sciences

Abstract

This research is about how companies which have products that are labeled into a product category are evaluated and are praised. Being labeled into a category means that a group of products are represented by characteristics already known to consumers, in effect being categorized.

Existing research has shown that companies which have products that can be easily labeled into a product category are judged highly by reviewers and garner more attention. These products are called prototype about the category. On the other hand, companies which do not have products that fit into a category well or not at all are given poor evaluations. Thus, this research shows that companies who have products which can be partly labeled into a product category would be evaluated as better than those which cannot.

This study will focus on “mini” insurance companies and compare the products which have already been categorized and those that have not. Furthermore, this study sets out to prove that after the more a company has products which are being labeled into product categories, the more likely that company would be able to achieve better reviews. As a result, this research will show that a company could increase high evaluations by reviewers by focusing on being labeled into a product category.

Keywords: Category in Market, Prototype, Label of Category, Innovation, “Mini” Insurance.