Title: Understanding dimensions of customer-based brand equity in banks

Authors: Lizu Bassan; Lalit Mohan Kathuria

Addresses: Corporation Bank, Shekhan Majara, Nawanshahr, Punjab, India ' School of Business Studies, Punjab Agricultural University, India

Abstract: The present study is an attempt to determine the dimensions of customer-based brand equity in an emerging market like India. Measures for the study were developed based on the previous literature. A well-structured questionnaire was administered to customers of banks in a metropolitan city of India. Dimensions of customer-based brand equity were generated using exploratory factor analysis. The results highlighted tangibles, communication and competence; trust and brand image; reliability and responsiveness; and customer satisfaction as dimensions of customer-based brand equity for banks. Further, these brand equity dimensions were found to have a significant relationship with bank recommendation. Banks need to build a strong brand equity by improving upon service quality, providing better infrastructure, providing access to banking services, and incorporating technology for delivering better service in promised time.

Keywords: customer-based brand equity; banks; tangibles; trust; reliability; customer satisfaction; banking industry; emerging markets; India; exploratory factor analysis; EFA; communication; competence; brand image; responsiveness; bank recommendation; service quality; bank infrastructure; bank services; banking technology.

DOI: 10.1504/IJBCG.2016.079931

International Journal of Business Competition and Growth, 2016 Vol.5 No.1/2/3, pp.21 - 33

Received: 01 Feb 2016
Accepted: 14 Feb 2016
Published online: 22 Oct 2016 *

Full-text access for editors Full-text access for subscribers Purchase this article Comment on this article