Marketing can be defined as the process by which companies create value for customers and build strong customer relationships to capture value from customers in return. Marketing must be understood in the sense of satisfying customer needs. Simply put, marketing is managing profitable relationships, by attracting new customers by superior value and keeping current customers by delivering satisfaction. The findings close the gap in the area of the brand equity theory that has not been adequately developed for the banking/financial industry.Back to top Chapter 1: Basic concepts of marketing Such challenges might pertain to low levels of organizational associations and service quality perceived for foreign banks as found in this study. Originality/value– The results help foreign banks understand branding challenges/threats they may face from local banks in new markets. Foreign banks scored the lowest in perceived quality, brand loyalty, and the overall CBBE. Organizational association was the highest for state banks, followed by private banks, and the lowest for foreign banks. Findings– The study finds that the overall CBBE, perceived quality, brand image/association, and brand loyalty were significantly higher for private banks than for state and foreign banks. Data were collected from adult customers of three types of banks. Design/methodology/approach– Measurements of brand equity dimensions were drawn from the literature, which included brand awareness, perceived quality, brand image, brand association, organizational association, and brand loyalty. The study determines if and how CBBE differs across three types of banks (state, private, and foreign). The results of the thesis were customer loyalty model developed for brand recommenders of any product.ĪBSTRACT Purpose– This study examines bank brand equity from consumer perspectives by comparing the consumer-based brand equity (CBBE) dimensions of local and global banks in Turkey. The theoretical framework aims to find knowledge for compiling the main elements of customer loyalty behaviors of product brand recommenders in this thesis. Primary survey pen-and-paper based questionnaire and the interviews were the major information sources of the empirical data for the research, complemented with secondary data sources where relevant. A case study of customer loyalty behaviors of infant formula brand recommenders was explored in detail.
Quantitative research methods were mainly used in this dissertation research. Product brand recommenders might or might not be direct product brand users by nature. Product brand recommenders/endorsers are those who recommend or endorse specific product brand(s) to potential end users and/or customers. Most research studies in Thailand focus on brand loyalty of end-customers, none has explored loyalty behaviors of product brand recommenders or product brand endorsers. The thesis had its focus on exploring impacting factors and behaviors of product brand recommenders in relation to customer loyalty, which is an unexplored field of research in Thailand. This thesis was conducted during the author's first year of a three-year PhD program at the IICSE University, USA.
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