Keyword

Brand equity, marketing communication tools, Egyptian banking sector

Abstract

The purpose of this study is to identify the major marketing communication tools that are beneficial on building bank brand equity through customer-based brand equity dimensions (CBBE) (brand awareness, brand perceived quality, brand associations, brand loyalty and brand trust) fromcustomers’ perspective in the Egyptian context.This studyused qualitative approach, which consists of semi-structured interviews.Fifteen interviews were conducted until the saturation level.Data collected were analysed by using themed analysis.The findings of this study showed that in the Egyptian banking sector, the major bank marketing communication tools consist of advertising, personal selling and direct marketing. The most important tool was personal selling; the next tool was direct marketing; and, finally, the advertising on building bank brand equity through CBBE dimensions. This study contributes on the theoretical level in the following ways: by adding to the field of branding particularly in the service brand equity in the Egyptian banking sector; by identifying the major bank marketing communication tools that help build bank brand equity through CBBE dimensions; and by developing a proposed conceptual framework that links between major marketing communication tools, CBBE dimensions and overall brand equity.It also provides directions to the service provider and particularly the bank managers on building, improving and maintaining bank brand equity to achieve a sustainable competitive


Full Text : PDF

References
  1. Aaker, D. A. (1991). Managing brand equity: Capitalizing on the value of a brand name. New York: Free Press. 
  2. Aaker, D.A. (1996). Building strong brands. New York: Free Press.
  3. Ambler, T., Bhattacharya, C.B., Dell, J., Keller, K.L., Lemon, K.N., & Mittal, V. (2002). Relating brand and customer perspectives on marketing management. Journal of Service Research, 5(1), 13-25.
  4. American Chamber of Commerce Egypt (2008). Banking Sector Development in Egypt. Retrieved September 15, 2012 from http://www.amcham.org.eg/resources_publications/publications/business_studies/Default.asp?repid=53&MyYear
  5. Atilgan, E., Akinci, S., Aksoy, S., & Kaynak, E. (2009). Customer-based brand equity for global brands: A multinational approach. Journal of Euromarketing, 18(2), 115-132.
  6. Atilgan, E., Aksoy, S., &Akinci, S. (2005). Determinants of the brand equity: A verification approach in the beverage industry in Turkey. Journal of Marketing Intelligence and Planning, 23(3), 237-248.
  7. Barwise, P. (1993). Brand Equity: Snark or Boojum? International Journal of Research in Marketing, 10(March), 93-104.
  8. Bick, G.N.C. (2009). Increasing shareholder value through building customer and brand equity. Journal of Marketing Management, 25 (1/2), 117-41.
  9. Buil, I., De Chernatony, L., & Martinez, E. (2008). A cross-national validation of the consumer-based brand equity scale. Journal of Product and Brand Management, 17(6), 384-92.
  10. Burmann, C., Jost-Benz, M., & Riley, N. (2009). Towards an identity-based brand equity model. Journal of Business Research, 62(3), 390-397.
  11. Chahal, H., & Bala, M. (2012). Significant components of service brand equity in healthcare sector. International Journal of Health Care, 25(4), 343-362.
  12. Chaudhuri, A., & Holbrook, M. B. (2001). The chain of effects form brand trust and brand effect to brand performance: The role of brand loyalty. Journal of Marketing, 65(2), 81-93.
  13. Chen, A.C. (2001). Using free association to examine the relationship between the characteristics of brand associations and brand equity. Journal of Product & Brand Management, 10(6/7), 439-49.
  14. Cobb-Walgren, C., Ruble, C. A., & Donthu, N. (1995). Brand equity, brand preference, and purchase intent. Journal of Advertising, 24(3), 25-40.
  15. De Chernatony, L., & Cottam, S. (2006). Why are financial services brands not great? Journal of Product & Brand Management, 15(2), 88-97.
  16. De Chernatony, L., & Dall’OlmoRiely, F. (1999). Experts’ views about defining services brands and the principles of service branding. Journal of Business Research, 32(11/12), 1074 ff.
  17. Duffy, D. (2005). The evolution of customer loyalty strategy. Journal of Consumer Marketing, 22(4/5), 284-286.
  18. Dyson, P., Farr, A., & Hollis, N. (1996). Understanding, measuring, and using brand equity. Journal of Advertising Research, November(December), 9-21.
  19. Farquhar, P.H. (1989). Managing brand equity. Marketing Research, 1(3), 24-33.
  20. Feldwick, P. (2002). What is brand equity, anyway? Henley-on-Thames: World Advertising Research Center.
  21. Fill, C. (2002), Marketing communications, contexts, strategies and applications. (3rd ed.). Prentice Hall Europe, Hemel Hempstead.
  22. Garbarino, E., & Johnson, M. S. (1999). The different roles of satisfaction, trust, and commitment in customer relationships. Journal of Marketing, 63(April), 70-87.
  23. Ghoneim, A. F. (2007). Access to services and its impact on competitiveness of Egyptian firms. The Journal of International Trade and Diplomacy, 1(2), 203-230.
  24. Gronroos, C. (2001). The perceived service quality concept–a mistake. Managing Service Quality Journal, 11(3), 150-200.
  25. Gronroos, C. (2007). Services management and marketing. (3rd ed.). Chichester: John Wiley & Sons.
  26. Grover, R., & Srinivasan, V. (1992). Evaluating the multiple effects of retail promotions on brand-loyal and brand-switching segments. Journal of Marketing Research, 29 (February), 76-89.
  27. Harris, L.C., & Goode, M.H.H. (2004). The four levels of loyalty and the pivotal role of trust: a study of online service dynamics. Journal of Retailing, 80, 139-158.
  28. Herrera, F., Lopez, E., & Rodriguez, M.A. (2002). A linguistic decision model for promotion mix management solved with genetic algorithms. International Journal of Approximate Reasoning, 30(3), 203-223.
  29. Hiscock, J. (2001). Most trusted brands. Journal of Marketing, March(1), 32-33.
  30. Javalgi, R.R., & Moberg, C.R. (1997). Service loyalty: Implications for service providers. Journal of Services Marketing, 11(3), 165-179.
  31. Kapferer, J.N. (1997). Strategic brand management. (2nd ed.). London: Kogan Page.
  32. Kartono, B., & Rao, V.R. (2009). Brand equity measurement: Comparative review and a normative guide. Johnson School Research Paper Series No. 24-09.
  33. Kayaman, R., & Arasli, H. (2007). Customer based brand equity: Evidence from the hotel industry. Journal of Managing Service Quality, 17(1), 92-109.
  34. Keller, K. L. (1993). Conceptualizing, measuring, and managing customer-based brand equity. Journal of Marketing, 57(1), 1-22.
  35. Keller, K. L. (2001). Building customer-based brand equity. Marketing Management, 10(2), 14-19.
  36. Keller, K. L. (2003). Brand synthesis: The multidimensionality of brand knowledge. Journal of Consumer Research, 29(4), 595-600.
  37. Keller, K.L. (1998). Strategic brand management: Building, measuring and managing brand equity. Upper Saddle River, NJ: Prentice Hall.
  38. Kim, H., Kim, W., & An, J. (2003). The effect of customer-based brand equity on firms' financial performance. Journal of Customer Marketing. 20(4), 335-351.
  39. Kimpakorn, N., &Tocquer, G. (2010). Service brand equity and employee brand commitment. Journal of Services Marketing, 24(5), 378-388.
  40. Kumar, R., Dash, S., and Purwar, P. (2013). The nature and antecedents of brand equity and its dimensions. Journal of Marketing Intelligence and Planning, 3(2), 141-159.
  41. LaBahn, D.W., & Kohli, C. (1997). Maintaining client commitment in advertising agency-client relationships. Industrial Marketing Management, 26(6), 497-508.
  42. Lassar, W., Mittal, B., & Sharma, A. (1995). Measuring customer-based brand equity. Journal of Consumer Marketing, 12(4), 11-19.
  43. Leone, R.P., Rao, V.R., Keller, K. L., Luo, A.M., McAlister, L.,  & Srivastava, R. (2006). Linking brand equity to customer equity. Journal of Service Research, 9(2), 125-138.
  44. Luk, S.T., & Yip, L.S. (2008). The moderator effect of monetary sales promotion on the relationship between brand trust and purchase behaviour. Journal of Brand Management, 15(6), 452-464.
  45. MacKay, M.M., Romaniuk, J., & Sharp, B. (1997). A typology of brand equity research. Proceedings of the Australia New Zealand Marketing Educators Conference (ANZMAC), Department of Marketing, Monash University, Melbourne, 1146-1157.
  46. McAllister, D.J. (1995). Affect and cognition based trust as foundations for interpersonal cooperation in organizations. Academy of Management Journal, 38(February), 24-59.
  47. Morgan, R. M., & Hunt, S. D. (1994). The commitment- trust theory of relationship marketing. Journal of Marketing, 58(July), 20-38.
  48. Moutinho, L., Davies, F., Deng, S., Peris, S. M., & Alcaniz, J. E. B. (1997). The future role of bank branches and their managers: Comparing managerial perceptions in Canada and Spain. International Journal of Bank Marketing, 15(3), 99-105.
  49. Nellis, J.G., McCaffery, K.M. & Hutchinson, R.W. (2000). Strategic challenges for the European banking industry in the new millennium. International Journal of Bank Marketing, 18(2), 53-64.
  50. Netemeyer, R. G., Krishnan, B., Pullig, C., Wang, G., Yagci, M., & Dean, D. (2004). Developing and validating measures of facets of customer-based brand equity. Journal of Business Research,57(2), 209-224.
  51. Oliver, R. L. (1997). Satisfaction: A behavioral perspective on the consumer. New York: McGraw-Hill.
  52. Pappu, R., Quester, P. G., & Cooksey, R. W. (2005). Consumer based brand equity: Improving measurement – empirical evidence. Journal of Product and Brand Management, 14(3), 143-154.
  53. Pappu, R., Quester, P. G., & Cooksey, R. W. (2006). Consumer-based brand equity and country-of-origin relationships: Some empirical evidence. European Journal of Marketing, 40(5/6), 696-717.
  54. Parasuraman, A. (1997). Reflections on Gaining Competitive Advantage through Customer Value. Journal of the Academy of Marketing Science, 25(2), 154-161.
  55. Park, C.S., & Srinivasan, V. (1994). A Survey-based method for measuring and understanding brand equity and its extendibility. Journal of Marketing Research, 31(May), 271-288.
  56. Pinar, M., Girard, T., & Eser, Z. (2012). Consumer-based brand equity in banking industry: A comparison of local and global banks in Turkey. International Journal of Bank Marketing, 30(5), 359-375.
  57. Powers, T. L. & Hahn, W. (2002). Skill and resource based competitive methods: Impact on firm performance. Journal of Services Marketing, 16(2/3), 113-124.
  58. Punch, K.F. (1998). Introduction to social research: Quantitative and qualitative approaches. Thousand Oaks, CA: Sage Publications.
  59. Quelch, J. (2003). The return of the global brand. Harvard Business Review, 81(18), 22-30.
  60. Rajh, E., & Dosen, D. (2009). The effect of marketing mix elements on service brand equity. Economic Research Original Scientific Paper, 22(4), 69-83.
  61. Rauyruen, P., Miller, K. E., & Groth, M. (2009). B2B services: Linking service loyalty and brand equity. Journal of Services Marketing, 23(3), 175-186.
  62. Riezebos, R. (2003). Brand management– A theoretical and practical approach. Harlow: Pearson Education.
  63. Rio, A., Vazquez, R., & Iglesias, V. (2001). The role of the brand name in obtaining differential advantages. Journal of Product & Brand Management, 10(7), 452-465.
  64. Rossiter, J. R.,& Percy, L. (1987). Advertising and promotion management. New York: McGraw-Hill.
  65. Rotter, J. B. (1967). A new scale for the measurement of interpersonal trust. Journal of Personality, 35(4), 651-665.
  66. Simon, C. J., & Sullivan, M. W. (1993). The measurement and determinants of brand equity: A financial approach. Marketing Science, 12(1), 28-52.
  67. Sinha, A., Ashill, N.J., & Gazley, A. (2008). Measuring customer based brand equity using hierarchal Bayes methodology. Australian Marketing Journal, 16(1), 3-19.
  68. Vazquez, R., Del Rio, A. B., & Iglesias, V. (2002). Consumer-based brand equity: Development and validation of a measurement instrument. Journal of Marketing Management, 18(1/2), 27-49.
  69. Washburn, J.H., & Plank, R.E. (2002). Measuring brand equity: An evaluation of a consumer-based brand equity scale. Journal of Marketing Theory and Practice, 10(1), 46-62.
  70. Wood, L. (2000). Brands and brand equity: Definition and management. Management Decision, 38(9), 662-669.
  71. Wright, A. (2002). Technology as an enabler of the global branding of retail financial services. Journal of International Marketing, 10(2), 83-98.
  72. Yacout, O.M., & Elsahn, M.F. (2011). Customer-based brand equity of Islamic banks in Bahrain: An empirical investigation, in handbook of Islamic marketing, Sandikci, O. & Rice, G., eds. UK: Edward Elgar Publishing Ltd, 274-99.
  73. Yoo, B., & Donthu, N. (1997). Developing and validating a consumer-based overall brand equity scale for Americans and Koreans: An extension of Aaker’s and Keller’s conceptualizations. Paper presented at 1997 AMA summer Educators Conference, Chicago.
  74. Yoo, B., & Donthu, N. (2001). Developing and validating a multidimensional consumer-based brand equity scale. Journal of Business Research, 52(1), 1-14.
  75. Yoo, B., Donthu, N., & Lee, S. (2000). An examination of selected marketing mix elements and brand equity. Journal of the Academy of Marketing Science, 25(2), 195-212.
  76. 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.