DIMENSIONS OF CUSTOMER-BASED BRAND EQUITY: A PERCEPTUAL STUDY OF CUSTOMERS OF PUBLIC SECTOR AND PRIVATE SECTOR BANKS
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Date
2011
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PAU Ludhiana
Abstract
Brand equity helps in creating brand loyalty, increases the willingness to pay more
prices, and assists the company in effectively meeting the challenges posed by competitors.
The present study was conducted to determine the perception of respondents towards
dimensions of customer-based brand equity among public sector and private sector banks. All
the customers of public and private sector scheduled commercial banks of Ludhiana city
formed the population of the study. A sample of 200 respondents was selected on
convenience basis i.e. 100 from public sector banks and 100 from private sector banks. Data
were collected with the help of a structured and non-disguised questionnaire. Analysis was
done using appropriate statistical tools like mean score, Z-test, t-test, chi-square test Analysis
of Variance (ANOVA) and factor analysis. The study revealed that public bank respondents
associate their banks with convenient locations, higher returns and cost effectiveness whereas
private bank respondents associate their banks with personalized services, technology
advancement and faster transactions. The results of factor analysis revealed the dimensions of
brand equity for public sector banks as „physical facilities and advertisement‟, „awareness and
loyalty‟, „service quality‟, „brand image‟, „price‟, „location‟ and „service effectiveness and
return‟, whereas for private sector banks, the dimensions of brand equity were „service quality
and image‟, „returns and belongingness‟, „infrastructure and customer relationship‟,
„transaction cost and processing time‟, „product convenience and loyalty‟, and „product
variety and perception‟. The study further revealed that majority of the respondents (both
public sector as well as private sector banks) were satisfied with their banks.
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