CUSTOMER-BASED BRAND EQUITY OF RETAIL BANKS IN VIETNAM
DOI:
https://doi.org/10.37569/DalatUniversity.9.1.472(2019)Keywords:
Brand equity, Brand loyalty, Retail banking.Abstract
Developing customer-based brand equity (CBBE) for retail banks in Vietnam is still questionable, and the subject has not been properly investigated due to the fact that Vietnam is a young developing country. To extend a study of CBBE to Vietnam, this research conducts a survey to interview 157 respondents who are customers of one or more banks. Based on Exploratory Factor Analysis and a Structural Equation Model (SEM), findings confirm that there are significant relationships between satisfaction, quality, and uniqueness, meaning that an increase in perceived quality causes a rise in brand satisfaction. Similarly, an increase in brand uniqueness increases brand satisfaction. Brand satisfaction significantly enhances brand loyalty, while perceived quality and brand uniqueness have indirect effects on brand loyalty. As a result, this paper suggests that perceived quality and brand uniqueness must be formed before brand satisfaction in order to enhance brand loyalty. Furthermore, the direct effects of perceived quality and brand uniqueness on brand loyalty are lower than their indirect influences on brand loyalty via brand satisfaction.Downloads
References
Aaker, D. A. (1991). Managing brand equity. New York, USA: The Free Press.
Aaker, D. A. (1996). Measuring brand equity across products and markets. California Management Review, 38(3), 102-120.
Abdoli, M., Danaee, H., Haghtalab, H., & Khalili, M. (2012). Evaluating brand equity from the view of the customers in banking. Journal of Basic and Applied Scientific Research, 2(8), 7466-7472.
Aziz, N. A., & Yasin, N. M. (2010). Analyzing the brand equity and resonance of banking services: Malaysian consumer perspective. International Journal of Marketing Studies, 2(2), 180-189.
Berry, L. L. (2000). Cultivating service brand equity. Journal of the Academy of Marketing Science, 28(1), 128-137.
Chang, H. H., & Liu, Y. M. (2009). The impact of brand equity on brand preference and purchase intentions in the services industries. The Service Industries Journal, 29(12), 1687-1706.
de Chernatony, L., Harris, F. J., & Christodoulides, G. (2004). Developing a brand performance measure for financial services brands. The Service Industries Journal, 24(2), 15-33.
Hair, J. F., Black, W. C., Babin, B. J., Anderson, R. E., & Tatham, R. L. (2006). Multivariate data analysis (6th ed.). New Jersey, USA: Prentice Hall Press.
Hong, Y. H., Swinder, J., & Siva, M. (2010). Development of brand equity: Evaluation of four alternative models. The Service Industries Journal, 30(6), 911-928.
Keller, K. L. (1993). Conceptualizing, measuring and managing customer-based brand equity. Journal of Marketing, 57(1), 1-22.
Kirmani, A., & Zeithaml, V. A. (1993). Advertising, perceived quality, and brand image. In D. A. Aaker, & A. L. Biel (Eds.), Brand equity & advertising: Advertising's role in building strong brands (pp. 143-162). New Jersey, USA: Lawrence Erlbaum Associates.
Krishnan, B. C., & Hartline, M. D. (2001). Brand equity: Is it more important in services? Journal of Services Marketing, 15(5), 328- 342.
Martensen, A., & Grønholdt, L. (2006). A brand equity measurement and management system. Journal of Management Systems, 18(1), 54-65.
Mitsis, A., & Patrick, F. (2008). An empirical examination of referentially modified quality and value for cost scale items. Paper presented at The 2008 ANZMAC Conference, Australia.
Netemeyer, R. D., Krishnan, B., Pullig, C., Wang, G., Yagci, M., Dean, D., Ricks, J., & Wirth, F. (2004). Developing and validating measures of facets of customer-based brand equity. Journal of Business Research, 57(2), 209-224.
Oliver, R. L. (1999). Whence customer loyalty? Journal of Marketing, 63, 33-44.
Pushpender, N., & Anupam, B. (2011). Measurement of brand equity of services - Scale construction and validation. Journal of Services Research, 11(2), 135-154.
Taylor, S. A., Hunter, G. L., & Lindberg, D. L. (2007). Understanding (customer-based) brand equity in financial services. Journal of Services Marketing, 21(4), 241-252.
Zeithaml, V. A., Berry, L., & Parasuraman, A. (1996). The behavioral consequences of service quality. Journal of Marketing, 60(2), 31-46.
Zeithaml, V. A. (1988). Consumer perceptions of price, quality, and value: A means-end model and synthesis of evidence. Journal of Marketing, 52(3), 2-22.
Downloads
Published
Volume and Issues
Section
Copyright & License
Copyright (c) 2019 Vũ Minh Tú.
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
How to Cite
