Understanding (customer-based) brand equity in financial services

摘要

Purpose – The purpose of this study is to advance marketers' understanding of customer-based brand equity (CBBE) within the context of a B2B financial service marketing setting. Design/methodology/approach – Two nation-wide studies were used to investigate whether brands are in fact differentiated in the minds of the target audience; test two competing explanations of the formation of CBBE using structural equation analyses; and reconcile satisfaction and CBBE theories within a single theoretical model. Findings – The results suggest that these customers do differentiate brands, and that Netemeyer et al.'s model of CBBE is generally supported. In addition, the extended model of CBBE proposed herein explains more variance in loyalty intentions, while simultaneously demonstrating the importance of customer satisfaction in CBBE models, and incorporates customer attitudes into conceptualization of CBBE. Research limitations/implications – First, the current research focuses specifically on CBBE. Second, the reported MDS results are exploratory in nature and must be interpreted with caution. Practical implications – The results will help financial service marketers measure CBBE as well as relate brand power to customer satisfaction and customer attitude measurement through implementing the proposed framework in their own competitive setting. Originality/value – The two nation-wide studies reported herein enhance our understanding of CBBE and its relationship to customer attitudes and satisfaction research within a single theoretical model, as well as identifying the influential roles of both hedonic and utilitarian forms of brand attitudes in the formation of CBBE.