Professional Documents
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The Impact of Brand uniqueness, self-brand connection on Brand Image, advocacy
& Loyalty: A research on private Banks in Bangladesh Group: 03
Acknowledgement
At first we would like to express our graduate to all mighty Allah for enabling us the strength
and opportunity to complete the report we in due time successfully. The practical knowledge in
subject matter in entail to sub assistant the theoretical knowledge gather in the educational
institutions. In order to resolve the dichotomy these 2 areas, we assigned to prepare this research
paper on EMPIRICAL STUDY OF BRAND IMAGE, BARND LOYALITY,BRAND
ADVOCACY AND BRAND AWARNESS OF PRIVATE BANKING SECTOR IN
BANGLADESH.
This report would not have been possible without the dedication and contribution of a number of
individuals as it involve diverse filed of knowledge and experience. The list of theses great
persons, who helped us and guide us to prepare this report, is very long and cannot be
accommodated with in this limited space. But it will be unfair to ignore acknowledge to some of
them as they contributed so much to my effort of writing a worthy term paper.
We would like to express our thankfulness to Md.Shohel Islam Senior Lecturer, Honorable
faculty member, Department of Business Administration, Independent University of Bangladesh
for agreeing to supervise us during our project time period. His involvedness in our project to
help us every step of the way encouraged us to propel ourselves higer.
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The Impact of Brand uniqueness, self-brand connection on Brand Image, advocacy
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LETTER OF TRANSMITAL
29March, 2016
To
Md.Shohel Islam
Senior Lecturer
We would like to take this opportunity to thank you for the guidance and support you have
provided to us during this report. Without your help, this report would have been impossible to
complete. We are glad to submit our project paper on EMPERICAL STUDY OF BRAND
IMAGE, BRAND LOYALITY, and BRAND ADVOCACY AND BRAND AWARNESS OF
PRIVATE BANKING SECTOR IN BANGLADESH.
We would like to request you to excuse for any mistake that may take place in the report despite
of our best effort.
We pray and hope that you would be kind enough to accept our report and oblige there by.
Sincerely Yours
Md Ashfaqur Rahman
Md Rasal Miah
Sunjida Akter
Nowziat Ahmed
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The Impact of Brand uniqueness, self-brand connection on Brand Image, advocacy
& Loyalty: A research on private Banks in Bangladesh Group: 03
Executive Summary
Our research is based on brand loyalty, brand image, brand awareness and brand
advocacy of private banks of Bangladesh. Purpose of this research is to find out how bank
account holders reset when they are asked to tell about their bank. In our research we found 3
types of variables: 1.Independent variables (IV), Intervening variable (IVV) and Dependent
variables (DV) respectively. Our Independent variables are Brand Uniqueness, attitudes towards
brands, Perceived Quality (Tangibility, Responsiveness, Empathy and Assurance).Brand
Communication, Intervening variables and Self Brand connections and Brand Trust and
Dependent variables and Brand Loyalty, Brand Image, Brand Awareness and Brand Advocacy.
Basically, our research is a quantitative research and its sample size is 60.we did our
research based on private banking sector of Bangladesh and its sample contains
68questionnniers.Mainly,we did some analysis such as reliability analysis, descriptive analysis,
correlation testing in order to verify our research. Again, we did Spearmans Correlation in order
to see the relationships. Also, we did Pearsons Correlation in order to see the Strength of the
relationship, and even did the regression Analysis too.
Our study focuses on exactly how private banking sector of our country building their
brand image, loyalty and awareness. As we did this research a lot of leaning occurs regarding
behavior of account holders towards their prospective bank.
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The Impact of Brand uniqueness, self-brand connection on Brand Image, advocacy
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INTRODUCTION
Much have been written about the impact of the brand image, brand loyalty and brand
advocacy but the empirical studies looking at the effect of this medium on a companys brand
image are very few. Globalization of the luxury industry and rapid technological advancements
has presented luxury customers with many brand choices, leading to fierce competition among
firms. To successfully manage and compete with a luxury brand. In a corporate market, a strong
brand identity can be achieved through several factors including impeccable. For this research
we went to different private banks and collected information about these. Against their image,
these banks has used a huge amount of money to develop their brand image, identities and
branding strategy. Because a strong brand identity is fundamentally linked to a relevant, clear
and defined branding strategy. The implementation of a successful corporate branding strategy
allows banks to create distinguishable brands in return for customers preference and
loyalty(Abolaji A. 2009).
Traditionally successful brand have differentiated their brand identities using high-status
brand names and image. Thus customers are placing more emphasis on the emotional value, such
as closeness and involvement with brands, when making their service decisions. These emotional
values give premium customers a complete and memorable ownership. Experience during
consumption hence engaging with the customers in emotional level is crucial. In this 21st
century, customer now wants excellent service, which is more challenging to the banks. This also
focuses on whether the service would change the way in which branding and brand management
are conducted. Two decades have passed and generating a profitable business online is still an
ongoing key issue(Boora, K. and Singh, H. 2011).
It is predicted and explained that why brand image is important to clients. Why brand loyalty
increases clients. Why brand advocacy is essential to customers. These are what make a brand to
stand in front of their competitor. These pressing raises questions in terms of academic
understanding of customers perception of a well know brand comparison to a normal brand.
This research has closed up those gaps between them. In the competitive banking industry, the
impact of bank brand image on the attitudes and behaviors of customers become an important
issue. For banks today, the strength and marketing power of an institutions brand is rapidly
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The Impact of Brand uniqueness, self-brand connection on Brand Image, advocacy
& Loyalty: A research on private Banks in Bangladesh Group: 03
becoming one of the critical levers for differentiation and success. The aim of this study is to
examine the relationship among bank brand image, customer satisfaction, and loyalty. The
researcher purposely selected several institutions. The results reveal that bank brand image has
positive effects on customer satisfaction and loyalty. It means that a positive bank brand image
not only increases customer loyalty directly, but it also improves customer satisfaction through
the enhancing of perceived service quality, which in turn increases the loyalty of customers.
Bank brand image indeed serves as a lead factor in enhancing service quality, customer
satisfaction, and loyalty. This study proposes that bank managers should strive to create and
maintain the positive bank brand image in order to enhance customer satisfaction, and
loyalty(Aaker, D. 1996).
In the customer strategy, customer loyalty has strategic importance for each organization.
Increase customer loyalty has been become a hot topic among managers, consultants and
academic scholars (Keiningham Et al, 2008). The importance of this issue is due to this issue that
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The Impact of Brand uniqueness, self-brand connection on Brand Image, advocacy
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customers in their decisions about goods and services are considered it. Organizations and
institutions that are successful in creating customer loyalty acquire great competitive advantage
compared to their competitors. Anderson and Narous (2004) believe that customer retention for
organization is more efficient strategy than trying to acquire new customers in order to replace
the lost customers. Thus service providers faced with crowded and ultra-competitive markets in
the many industries have changed their emphasis on the marketing strategy from acquiring new
customers to maintain existing customers (loyalty) (Hoseini Et al. 2011). A variety of
environment changes caused bank to be more responsive to the customers desires, needs, and
expectations. So the banks are not only focus on improving the organizations structure and
service quality, but also focus on delivering value to the customers. Banks should be able to
create the competitive advantages over its competitor in order to survive(O. N. 2007).
Another strategy is to build brand equity and good reputation. Brand equity is the strength of
a brand in consumers mind, experience, and knowledge. Brand equity can be termed as an
additional value to a product in thought, words, and actions of the consumers. Managing brand
equity is important for hospitals, since hospitals with strong brand equity will be easier in
determining marketing strategies, so it able to get the potential customers and retain the existing
customers. Banks reputation is the public view of a bank that judged good or bad. Banks with
good reputations are able engenders trust, belief, and support of the customers rather than having
bad reputations. Some researchers argue that there is a relationship between the factors in, brand
equity, and reputation(Meenagham, T. 1995) Reputation, apart from brand equity, also greatly
affects the customers consideration in liking a brand, as well as the potential to strengthen or
weaken the influence of brand equity on customer relationship. Brand equity, and reputation.
Reputation, apart from brand equity, also greatly affects the customers consideration in liking a
brand, as well as the potential to strengthen or weaken the influence of brand equity on customer
relationship. In this field, lot of studies done, even though they have focused on different aspects
of the brand, especially for consumer products particularly service industry. This research is
consider the relationships of brands with their customers, investigated from the experienced in
clients of a private banks in Dhaka city(D. M., Dowling, R. G. and Hammond, K. 2003).
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The Impact of Brand uniqueness, self-brand connection on Brand Image, advocacy
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2. Purpose of Study
The main purpose of this research is to find out the relation between brand image, loyalty
and advocacy along with impact in private banks. The primary objective of this research is to
investigate the effects of impact in the private sector of banks.
To find the relationship brand uniqueness and brand advocacy.
To find the relationship between company and customers.
Improve positive impact on brand loyalty.
To find out customer perception of the studies.
To find relationship of the variable.
To find out the limitations of the services.
To discuss the findings of an empirical study.
3. Literature Review
The Brand
Today the primary capital of many businesses is their brands. For decades the value of a
Company was measured in terms of its real estate, then tangible assets, plants and equipments.
However it has recently been recognized that companys real value lies outside businessitself, in
the minds of potential buyers or consumers. A brand is both, tangible and intangible, practical
and symbolic, visible and invisible underconditions that are economically viable for the
company ( Kapferer, 1986).Brands are built up by persistent difference ever the long run. They
cannot be reduced justto a symbol on a product or a mere graphic and cosmetic exercise. A brand
is the signatureon a constantly renewed, creative process which yields various products. Products
areintroduced, they live and disappear, but brands endure. The consistency of this creativeaction
is what gives a brand its meaning, its content, and its characters: creating a brand
requires time and identity.The American Marketing Association defines the term Brand as A
name, term, symbol ordesign, or a combination of them, which is intended to signify the goods
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The Impact of Brand uniqueness, self-brand connection on Brand Image, advocacy
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or services of oneseller or group of sellers and to differentiate them from those of competitors.
Moreimportantly, a brand promises relevant differentiated benefits. Everything an organization
does, should be focused on enhancing delivery against its brands promise.Combining a few
different definitions, a brand is the name and symbols that identify:
The source of a relationship with the consumer
The source of a promise to the consumer
The unique source of products and services
The single concept that is created inside the mind of the prospect
The sum total of each customers experience with the corporate
According to Manohar David of Philips (Director and Senior Vice President, Philips
IndiaLimited, 1996), a challenge loving, risk taking Brand Manager, who retired after a 31 year
marketing career with Philips, and responsible for its brand success has to say;
In the 1970s, products were made from the manufacturing, rather than the customer point
of view. But with the focus shifting to the consumer, marketing has assumed a much larger
role.
Significant parameters in brand building literature have experienced a dramatic shift in
thelast decade. Branding and the role of brands, as traditionally understood, have been subject to
constant review and redefinition. A traditional definition of a typical brand was: the name,
associated with one or more items in the product line, which is used to identify the source of
character of the item(s) (Kotler, 2000). The American Marketing Associations
(AMA)definition of a brand is a name, term, sign, symbol, or design, or a combination of
them,intended to identify the goods and services of one seller or group of sellers and
todifferentiate them from those of competitors. Within this view, whenever a marketer createsa
new name, logo, or symbol for a new product, he or she has created a brand, (Keller, 2003).He
recognizes, however, that brands today are much more than that. As can be seen,according to
these definitions brands had a simple and clear function as identifiers. Before theshift in focus
towards brands and the brand building process, brands were just another step inthe whole process
of marketing to sell products. For a long time, the brand has been treated inan off-hand fashion
as a part of the product, (Urde, 1999). Branding is a major issue inproduct strategy (Kotler,
2000). As the brand was only part of the product, thecommunication strategy worked towards
exposing the brand and creating a brand image.Within the traditional branding model, the goal
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The Impact of Brand uniqueness, self-brand connection on Brand Image, advocacy
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was to build a brand image, (Aaker andJoachimsthaler, 2000); a tactical element that drives
short-term results. It is mentioned thatthe brand is a signtherefore external-whose function is to
disclose the hidden qualities of a product which are inaccessible to contact (Kapferer, 1997). The
brand served to identify aproduct and to distinguish it from competition.In the journey from
product-centric brands to customer-centric brands, many consumercompanies have locked in on
a transitional concept segment-specific brands.
The tangible dimensions thata brand creates are product innovations, high qualities,
and/or attractive prices etc. Those areoften observable from the products marketing mix and
product performance (Keller, 2003).The intangible values of a brand will include those that
cannot be quantified. Theseintangibles go beyond the product level to become a synaptic process
in the brain. In otherwords, consumers will be able to respond to this particular brand without the
presence of the product (Bedbury, 2002). More importantly, an intimate rapport may be
developed betweenthe consumers and their brands (Roberts, 2004; Fournier, 1998; Muniz and
Schau, 2005).
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Brand Advocacy
In electronic commerce and online advertising, a brand advocate is a person, or
customer who talks favorably about a brand or product, and then passes on positive word-of-
mouth (WOM) messages about the brand to other people.The value people place on the views of
current customers cannot be underestimated. We all recognize that consumers are now more in
control of the buying process than ever before and as they research products online theyre
seeking out reviews and opinions from customers, like themselves, with first-hand experience of
the brands theyre interested in. People have always talked about brands, however with the
increased use of social and digital media to share their experiences, brands now have a perfect
opportunity to hear these conversations. Forward thinking organizations are now putting plans
in place to tap into their brands latent advocacy. By unlocking this advocacy, brands can show
consumers what a great brand they are, as opposed to the conventional approach of telling
them. With people actively seeking out the inside view from existing customers, why would a
brand not want to meet this demand?However, customer satisfaction will not simply convert into
brand advocacy unless organizations make a concerted effort to ensure it happens in a systematic
way, and thats where Headstream can help. The good news is that our recent research into brand
advocacy showed that people are more than willing to participate, with the younger generations
particularly happy to help brands out. Theattributes of a branded product add value for
consumers, the intermediaries, and themanufacturers. The most significant contribution of a
strong brand to consumers would be thereduced searching time and cost when they are
confronted with a set of identical products. Ithelps consumers to identify and locate a product
with less information processing anddecision time because of the expected quality from
accumulated brand knowledge(Pelsmacker et al., 2004).
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a brand and will be more likelyto effectively bond with the brand. Consumers also use the brand
as a means of self imagereflection, symbolic status, and an anchor in this forever changing
world. Finally, a brandsmoothes consumers communication process to others and enrich their
everyday lives (Holt,2004; Keller 2003; Fournier, 1998).
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shareholder value (Srivastava, et al. 1998; Anderson et al. 2004). A strong brand alsoaffects a
companys financial bottom line directly in case of a merger or acquisition, becausebuyers are
usually required to pay an extra cost over the fair value of the firm. This results ina positive
goodwill (i.e. intangible asset) which will be booked on the balance sheets (Elliotand Elliot,
2007). Overall, a branded product adds value to all parties associated with it.However it does not
automatically create value. Only through adoption of an appropriatemarketing communication
strategy will the brand be successful. The key to branding is thatconsumers perceive the brand
differently as compared to other brands in the same productcategory (Keller, 2003).
This statement is supported by (Pennington and Ball, 2007), theydefine branding as the
process in which a customer or customers, define, label, and seek topurchase a subset of an
otherwise undifferentiated or unbranded product. On the surface itappears that it is up to the
consumers to determine a brands strength, but in fact it is thebranding process that creates a
unique mental map in a consumers mind and guides theirbehavior (Keller, 2003).In this context,
it is vital for organizations to shift the locus of the consumer relationship fromproduct brands
toward a trusted and credible umbrella brand and further move theimplementation of tactical
activities with targeted consumers or segments, rather than at thebrand level.
Brand Uniqueness
Brand uniqueness comprises a unique set of functional and mental associations the brand
aspires to create or maintain. These associations represent what the brand should deally stand for
in the minds of customers, and imply a potential promise to customers (Aaker, 1996 and Keller
1993). It is important to keep in mind that the brand uniqueness refers to the strategic goalfor a
brand while the brand image is what currently resides in the minds of consumers.A corporate
brand tries to establish a coherent perception of the company for its differentstakeholders and
reflects a good corporate reputation in the eyes of the general public (Hatchand Schultz, 2003).
Nevertheless, the single most important public of a corporate brand is itsend consumers, who are
drowning in the overwhelming abundance of brands and brandcommunication.Brand uniqueness
is a unique set of brand associations implying a promise to customers andincludes a core and
extended identity. Core identity is the central, timeless essence of thebrand that remains constant
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as the brand moves to new markets and new products. Coreidentity broadly focuses on product
attributes, service, user profile, store ambience andproduct performance. Extended identity is
woven around brand uniqueness elements organizedinto cohesive and meaningful groups that
provide brand texture and completeness, andfocuses on brand personality, relationship, and
strong symbol association. To be effective, abrand uniqueness needs to resonate with customers,
differentiate the brand from the competitors, and represent what the organization can and will do
over time (Aaker and Joachimsthaler,2000).
When brand faces aggressive competition in the arketplace, brand personality and
reputation of the brand help it distinguish from competing offerings. This can result ingaining
customer loyalty and achieve growth. A strong brand uniqueness that is well understoodand
experienced by the customer helps in developing trust which, in turn, results indifferentiating the
brand from competition. A company needs to establish a clear and consistent brand uniqueness
by linking brand attributes with the way they are communicated which can be easily understood
by the customers. The brand can be viewed as a product, a personality, a set of values, and a
position it occupies in people's mind(Ogba,I.E. and Tan, Z. 2009)
Brand uniquenessis everything the company wants the brand to be seen as. Intense
competition requires certain actions to be taken in brand management and includes the
establishment of brand uniqueness, defining its attributes, uniqueness and equity. The concepts
such as brand vision, aim and identity are the new ones. The conception of brand uniqueness was
mentioned for the first time in Europe by (Kapferer, 1986). The importance of the conception
and its understanding quickly disseminated in the entire world. The literature on brand
management, which has been widely xamined, uses the terms equity (Aaker, 1996), while the
concept of the identity is actually not used. The conception of brand uniqueness includes
everything that makes the brand meaningful and unique. Brand includes characteristics of a good
as well as a set of other elements, entailing brand uniqueness. This is a new conception;
however, when the differences of a certain category of goods start to decrease, the concept
becomes the major subject of investigation (Melin, 1997). Identity includes moral image, aim
and values that together constitute the essence of individuality while differentiating the brand (de
Chernatony, 2002). The identity of the strongest brands covers emotional benefit, which provides
strength to the brand. However, rendering the equity to the consumer the good has to provide a
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functional benefit as well. Additional value is rendered if the good provides the benefit of self-
expression that, in turn, reflects the image of the consumer (Aaker, 1996). Various researches in
the past state that brand uniqueness is themost important stage of the identification of a good
from the quality on which the furtherexistence of the good depends. The main principled
provision of brand uniqueness is a way,which becomes a possibility to reach the consumer. A
brand has to communicate withconsumers to grow in the market. Brand uniqueness is a set of
brand associations which need to be developed and retained for a brand strategy (Aaker, 2003).
Identity should help in the development of the relationship between a brand and a
consumer, providing a particular benefit. The main principles of brand uniqueness are: 1)
communication ecomes not only an important supply of information but a daily struggle to
remain heard and visible, which constitutes the prerequisite of durability; 2) brand should
adequately react to changes which makes up the prerequisite of understanding; 3) brand should
reflect consumers benefit and expectations, remaining harmonious, which is regarded as the
prerequisite of consistency (Grundey, 2002). Analyzing the concept of identity, the problem of
consistency and continuity arises as well. The conception of brand uniqueness deals with the
influence of time on the uniqueness and consistency of brand. Brand uniqueness is a new
concept; however, the majority of researchers have already analyzed the identity of enterprises
(Schwebig, 1988; Moingoen, 2003). The identity of the enterprise is constituted by a feeling that
helps the company to understand that it really exists and its existence is unique, with its history
and place, distinguishing the company from others (Kapferer, 2003). These different definitions
of identity emphasize the idea that identity signifies the understanding of being oneself, seeking
ones aim, being distinguished form others and being able to resist and withstand time alterations.
According to J. Kapferer, brand uniqueness could be defined by answering the following
questions:
What is the aim and individual vision of a brand?
What makes a brand distinguished?
How can satisfaction be achieved?
What is brand equity?
What are brand competence, validity and legitimacy?
What are the features of its recognition?
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This conception has appeared in brand management and is well known while ositioning
brands and building their image. According to de Chernatony (2001), the conception of brand
uniqueness offers a possibility to position a brand better and encourages strategic approach while
managing it. A well managed system of identity provides a competitive advantage when seeking
to protect oneself form competitors. Currently the society is closely connected with
communication. Everybody wishes for communication or is included into the communication
process unwillingly. It is extremely difficult to remain thriving and establish ones identity under
the circumstance of severe competition. Communication ensures two things: sending of a
message and the guarantee that it has been received. Communication implies not only the means
of technique but inventiveness as well. It represents the necessity to conceive brand uniqueness.
In summary, it could be claimed that the conception of brand uniqueness includes the
uniqueness,meaning, aim, values, and personality of a brand and provides a possibility to
position the brand better, and, thus, achieve significant competitive advantage
Brand Image
In marketing literature great attention is focused on brand image which is studied from
two:companies and consumers perspectives. The approach of a company is directed towards
theimprovement of marketing activity, connected with strategies of positioning and retaining ofa
positive brand image. Consumer's approach is based on consumer's attitude towards
theinterpretation of brand image and brand equity. The importance of brand in the market
isinfluenced by company's ability to evaluate the fact how consumers interpret the image
ofbrands and company's ability to manage the strategy of brand positioning, adequatelyrevealing
brands equity to a consumer (Kotler, 2001). Brand associations consist of brandimage, brand
knowledge and brand awareness (Keller, 1998). He further says that brandassociations include
perceptions of brand quality and attitude towards the brand.(Keller, 1993) defined brand image
as perceptions about a brand as reflected by the brandassociation held in consumer memory.
These associations refer to any brand aspect withinthe consumers memory (Aaker, 1996).
Basically, brand image describes the consumersthoughts and feelings towards the brand (Roy
and Banerjee, 2007). In other words, brandimage is the overall mental image that consumers
have of a brand, and its uniqueness incomparison to the other brands (Faircloth, 2005). Brand
image comprises a consumersknowledge and beliefs about the brands diverse products and its
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non-product attribute. Brandimage represents the personal symbolism that consumers associate
with the brand, whichcomprises of all the descriptive and evaluative brand-related information
(Iversen and Hem,2008). When consumers have a favorable brand image, the brands messages
have a strongerinfluence in comparison to competitor brand messages (Hsieh and Li, 2008).
Therefore,brand image is an important determinant of a buyers behavior (Burmann et al., 2008).
In theB2B market, brand image also plays an important role.
This is especially so given that it is difficult to distinguish between products and services,
based on their tangible attribute(Mudambi et al., 1997).Brand image can be defined as the
reasoned or emotional perception a consumer attaches tospecific brands and is the first consumer
brand perception that was identified in marketing literature. Brand image consists of functional
and symbolic brand beliefs.Brand image, is the totality of consumer perceptions about the brand,
or how they see it,which may not coincide with the brand identity. Companies have to work hard
on theconsumer experience to make sure that what customers see and think is what they want
themto, thus highlighting the notion of brand identity. Brand identity is the strategically
plannedand operationally applied internal and external self-presentation and behaviour of
thecompany (Van Reil, 1995 and Blomback, 2005). Brand identity is a vague but vital aspect
ofa company and now is considered to be one of the most important factors in the
strategicpositioning of products in the minds of the consumers (Bounfour, 2002). A brand tries
toestablish a coherent perception of the company for its different stakeholders and reflects agood
corporate reputation in the eyes of the general public (Hatch and Schultz, 2003).
Nevertheless, the single most important public of a brand is its end consumers, who
aredrowning in the overwhelming abundance of brands and brand communication. A
favorablebrand image would have a positive influence on consumer behavior towards the brand
interms of increasing loyalty, commanding a price premium and generating positive word-
ofmouth(Martenson, 2007). Marketing studies argue that brand image is an important
factoraffecting brand equity (Biel, 1992, 1993; Villareji-Ramos and Sanchez-Franco,
2005).(Faircloth et al., 2001) also found that the more positive the brand image, the more
consumersare willing to pay and thus the greater the brand equity. A brand image can be an
associationset and is usually organized in some meaningful way (Aaker, 1991). (Keller, 1993)
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hasargued that if a brands image is related to association (e.g. attribute and attitude), the
brandsassociation gains, favorable strength and uniqueness in the mind of the consumer.
A positive brand image is created by marketing programs that link powerful and unique
associations to aconsumers memory of the brand (Keller, 1998). That is, brand image can create
associationsthat elicit positive feelings and attitudes towards the brand (Porter and Claycomb,
1997).Besides, (Biel, 1992) has argued that brand association could also arise from corporate
image,product image and user image. Most of the corporate association theory has been
developedfrom corporate image (Power et al., 2008). Brand image is the current view of the
customers about a brand. The impressions consumers have of a company extend well beyond the
product or service the firm provides. According to Porter (1985) brand image is a mental image
that reflects the way a brand is perceived, including all the identifying elements, the product or
company personality, and the emotions and associations evoked in the consumers mind. It can
be defined as a unique bundle of associations within the minds of target customers. Keller
(2003c) defines brand image as perceptions about a brand as reflected by the brand associations
held in consumer memory. It is a set of beliefs held about a specific brand. In short, it is nothing
but the consumers perception about the product(Eisemann, L. and Herbert, L. 1990).
It is the manner in which a specific brand is positioned in the market. Brand image
conveys emotional value and not just a mental image. Brand image is a composite of perceived
quality and esteem dimensions. In other words, brand image is a perception of a brand held in
customer memory and reflecting a customers overall impression. A positive brand image can be
considered as a crucial ability of a corporation to hold its market position. A brand image of a
bank is not absolute; it is relative to brand images of competing banks. The customers often form
a brand image of a bank from their own banking experience. Furthermore, bank brand image
possesses a strategic function. Through strategic marketing activities, the brand image of a bank
can be used to help it improve its competitive position. Thus, a favorable bank brand image helps
strengthen the intentions customers have for selecting a bank.De Chernatony, L. (2006)
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The heart of marketing is relationships and nurturing long termrelationships should be the
goal of marketing practice (Berry et. al, 2006).Increased competition reduces brand loyalty
making the job of the marketers more complex.Further, customers also become indifferent to the
myriad marketing messages being thrustupon them. As a result, marketing needs to be more well
directed and specific, becausecustomers, whether consumers or businesses, do not want more
choices. Customers havehidden or overt preferences which marketers can reveal by building a
learning relationship.Hence, the study focuses on developing greater customer centricity in
brands.An increasing number of organizations have specialized in meeting the increased
complexityof individual needs. As more and more consumers gain access to powerful new media
andinformation tools to compare brands, products and services (Pitt et al., 2002; Hagel
andSinger, 1999; Wind and Rangaswamy, 2001; Prahalad and Ramaswamy, 2000), organizations
in a range of industries are responding by developing advocacy-based strategies and practices.As
Urban (2004) observes, the strategy behind customer advocacy is simple. By assistingconsumers
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to find and execute their optimum solution in a given market, it will be easier foran organization
to earn their long-term trust, purchases and loyalty.In the meantime, in the highly competitive
business climate, developing and maintainingunique product features has become hard and
costly. Technical progress does not necessarilyassure commercial success or sustainable
competitive advantages. Products are becomingmore and more like commodities. According to
Naomi Klein, author of the much debatedbook No Logo, leading companies like Nike,
Microsoft and Tommy Hilfiger put brandsbefore products claiming that they no longer produce
things, but images of their brand.A brand relationship is the commitment and resonance a
customer has towards a brand. Itgoes beyond simple features, functionality, price or total cost of
ownership. The higher thecommitment to a brand, the more impervious the customer is to the
offers of competitors.Higher repurchase probabilities are one measure of this commitment, as is
the willingness torefer the product to others.What consumers know about a brand will influence
their reaction when confronted withbrand-related stimuli (e.g. a branded product, a brand user, a
category). Managing consumer brand knowledge hence becomes a crucial task for brand
mangers (Aaker, 1996; Kapferer,2004; Keller, 2003).
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Emotional Attachment
A brand differentiates a product in several forms and it can be broadly divided into
twocategories- the tangibles (rational), and the intangibles (emotional and symbolic). Either way,
while the product performs its basic functions, the brand contributes to the differentiation of
aproduct (Keller, 2003). These dimensions distinguish a brand from its unbranded
commoditycounterpart and give it equity, which is the sum total of consumers perceptions and
feelingsabout the products attributes and how they perform, about the brand name and what it
stands
for, and about the company associated with the brand (Achenaum, 1993). A strong
brandprovides consumers multiple access points towards the brand, by attracting them
throughboth functional and emotional attributes (Keller, 2003). Emotional attachment to brands
hasattracted recent research attention (e.g. Thomson et al., 2005). Researchers have
longconsidered attitudes to be insufficient predictors of brand commitment (e.g. loyalty),
andsuggest that true loyalty requires the customer to form an emotional bond with the brand(Park
et al., 2009; Oliver, 1999). Customers emotional connection with a brand assessed on attributes
like appealing,attitudinal attachment, captivating, passion etc. that together reflect the true health
of anycompany-customer relationship is a reflection of their social bonding. In the same
context,social identity theory is based on the notion that people will be motivated to
attachthemselves to those who are perceived to be similar in values, preferences or various
sharedgroup characteristics (Jacobson, 2003). The fundamental premise is that group
membership iscrucial to the formation of specific identities developed by the individual (Hogg
and Abrams,1990).
Social identity is developed through the value and emotional attachment that anindividual
derives from membership in a particular group (Tajfel and Turner, 1986). Groupsare particularly
likely to engage in strategies to maintain their identity when (a) there is astrong attachment or
identification with the group, and (b) there is an imminent threat to thedominant status of the in-
group mounted by a rival group (e.g., just before a major gameencounter) (Hogg and Abrams,
1990; Tajfel and Turner, 1986). In this study, we propose thatthe processes associated with
building strong group identity and cohesion are ultimatelyreflected in stronger identification with
the in-group, as well as an enhancement of positivesocial and self-concept benefits (Branscombe
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and Wann, 1991; Tajfel and Turner, 1986).Under these conditions, marketing strategists may
have an opportunity to strengthen theconsumers emotional connection with the brand by
priming the audience with strongemotional connect. In developing strategies and tactics aimed at
building strong and lastingrelationships between customers and brands, it may be important to
consider the manner inwhich customer-brand emotional connection/relations are bolstered and
reinforced.Recognizing the importance of building such brand connections, should also solidify
strongand lasting relationships between customers and the brand.Nevertheless, six dimensions
have emerged from prior researches, as particularly importantmeasures of the customer mindset
(Lassar and Sharma; Agrawal and Rao, 1996).
1. Corporate Association: Since the mid-nineties, research has explained corporate image
and its effecton consumers by means of a new concept: corporate associations (Brown and
Dacin,1997; Brown, 1998; Sen and Bhattacharya, 2001; Hoeffler and Keller, 2002; Ahearneetal.,
2005). This concept was originally developed in psychology research and refersto all
theinformation that a person accumulates about a company and that is combined and ordered in
their mind to form a global corporate image. Therefore, corporateassociations is a broad global
concept that encompasses all of the constructstraditionally referred to as corporate image,
including beliefs, moods, emotions,evaluations, and other forms of knowledge individuals hold
about a particularcompany (Brown, 1998).Brown and Dacin (1997) identify two basiccategories
of corporate associations:(1) associations of corporate ability, which refer to the experience of
the companyin producing and distributing its products and/or services; and(2) associations of
corporate social responsibility, which refer to the perceivedimage consumers have about the
social character of the company.Indicators of the first one are, for example, workforce
experience, research anddevelopment investment and technological development, customer
orientation, productquality, customer service or range of products. The second one is more
related toactivities such as corporate philanthropy, cause-related marketing or sponsorship
ofcharity programs.On the other hand, Brown (1998) defines six categories for
corporateassociations:
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(3) interaction with exchange partners, which refers to the honesty and ethicalbehaviour with
distributors and concern for consumers;
(4) interaction with employees, which includes perceptions about good workingconditions and
commitment to equal opportunities in employment; and
2. Corporate Value: Corporate values can be dened, in a classical sense, as beliefs that
help companies make choices among available means and ends /Rockeach, 1973), or more
technically, as the weight which corporate decision makers attach to alternative goals when
making their decisions. Alternative goals could be accounting protability, stock returns,
customer value, market share, company growth, employee satisfaction, supplier surplus or
measures of corporate social performance /like image, environmental impact, tax revenue). They
could be present or future values of these variables to capture a trade off between the short and
the long run /Fama and Jensen, 1985). They can be probabilistic to capture different attitudes
towards risk /Sitkin and Pablo, 1992; Sitkin and Weingart, 1994; Wright et al. , 1996).
Effectively, they can even encompass the weight, which managers attach to their personal goals
/Jensen and Meckling, 1976). For example, if the managers of a company value empire building,
and if this inclination is not checked by shareholders or stakeholders, growth and diversification
goals may effectively belong to the corporate value system
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project an authentic brand image and reinforce their company's values.Palgrave MacMillian.
Ataman, B.K. (2000)
4. Corporate Activity: The extent to which the customers use the brand , talk to others
aboutthe brand, seek out the brand information, promotions, and events, and so on. In this
variable generaly customers share their experience to others and so on, word of mouth spread to
others. And thus the circle increases. This is what make the brand visiable and Trust worthy to
others. Chevalier, M. and Mazzalovo, G. (2004)
5. Symbolic Benefits:Symbol benefits is a brand adopted not only for its functional benefits,
but above all, for the strong symbolism and significance that it is able to transmit, allowing a consumer
to express his or her identity, to signal status or manifest a sense of belonging to a group.Businesses
might be based on three different types of knowledge: analytical; synthetic or symbolic.Beerli,
A., Martin, D.J. and Quintana, A. (2004) Creative or cultural businesses, such as entertainment,
publishing, design, or fashion, draw heavily on a symbolic knowledge base. They serve
important symbolic functions such as capturing, refracting, and legitimating social knowledge
and values. The essence of a brand or a product in these industries resides in its meaning for the
consumer rather than in its function..Chen, J.S. and Ching, R.K.H. (2007)The symbol-intensive
brand definition has been firstly introduced by Stefania Saviolo and Antonio Marazza in the
book Lifestyle Brands A Guide to Inspirational Marketing. Analyzing a brands choices in
terms of competitive scope (number of targets and categories served) and type of benefits
provided to the customer, five classes of Symbol-intensive brands are identified Symbol-
intensive brands are able to maintain a relationship with their clients that goes beyond the usualy
brand loyalty. Beerli, A., Martin, D.J. and Quintana, A. (2004)
6. Functional Benefits:People buy for emotional reasons and then look for functional
reasons to rationalize that emotional decision. More and more marketers, whether they are
consumer based businesses or even B-to-B, are recognizing those deeper emotional connections
that drive purchase decisions. Better late than never, they are charging out of the gate to design
new research techniques that will help them uncover the attitudes and values that drive those
emotional decisions what is commonly called psychographics research rather than the more
functionally driven category usage research heavily weighted on demographics that they have
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done in the past.Palgrave MacMillian. Ataman, B.K. (2000)There has been a lot written about
psychographics segmentation research that make strong arguments that attitude and lifestyle data
are more valuable in determining customer behavior than the traditional demographic
segmentation that is based on such factors as age Tybout, A., & Calkins, T. (Eds.).(2005)
Perceived Quality
Perception is the way that individuals select, organize, and interpret data to create a
meaningfor themselves. Customers usually view goods based on their perception since they do
notbuy the goods. Thus, a brand can be seen as a prejudice (Arnold, 1992 referred to in
NatalieAnn Ryan, 2002). Consumers initially have feelings towards a brand before they
evenconsume it (Buttle and Burton 2002 referred to in Natalie Ann Ryan, 2002). The
perceptionof the brand image is very important, since consumers analyze the personality of a
brand, andthen creates meaning out of the brand message (D. Aaker and A. Biel, 1993 referred to
inNatalie Ann Ryan, 2002).To perceive quality of the brand, consumers often look at price
(Upshaw, 1995 referred to inNatalie Ann Ryan, 2002). In general, consumers want brands that
offer them high quality at a
reasonable price. A firms way of sales promotion can have either a positive or a
negativeinfluence on the consumers perception of the brands quality. It also has an impact on
thebrand images (Usunier, 1993 and 1994). For example, a firm that always has pricepromotions
can let a consumer to perceive the low quality.
Conversely, if consumers seespecial offers from a brand once in a while, they will feel
more rewarded for being acustomer. By advertising this way, the firm can keep the consumers
perception of qualitythat they have for the brand, while also keeping a positive image of the
brand in theconsumers mind (Aaker and Biel, 1993). It is important that a brands identity
matches theconsumers image of the brand because this determines whether a brand will gain the
trust ofconsumers, and whether the brand will success or not (Temporal and Lee, 2001). Brand
image can be defined as perceptions about a brand as reflected by the association heldin
consumer memory. It can also be conceptualized as the culture of attributes andassociations that
consumers connect to the brand name (Keller, 1993). Brand image is thetotality of associations
that surround the brand. It is a perceptual concept. What is containedin a brands image may or
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may not be the result of marketing efforts. It represents how abrand lives in a customers very
own personal, subjective world. A consumer may develop aset of beliefs about a brand e.g.,
attributes or benefits. It is this set of beliefs that a consumerholds about a brand that make up the
brand image.Building a strong brand within consumers minds means creating a positive brand
evaluation,an accessible brand attitude, and a consistent brand image, (Farquhar,1989), the
accessiblebrand attitude actually referring to what the others term as awareness. As already
mentioned,an important dimension of brand equity is brand awareness, very often an
undervaluedcomponent. Not only is that awareness a prerequisite for a brand to be included in
theconsideration set (the brands that receive consideration for purchase), but it also
influencesperceptions and attitudes, and can be a driver for brand loyalty (Aaker, 1991).
Reflecting the salience of the brand in the customers mind, brand knowledge
isconceptualized in terms of two components, brand awareness and brand image (Aaker,
1996).Brand knowledge can be described as consumer awareness of a brand and the
associationswith the brand. Understanding whether or not consumers are aware of the brand and
whatassociations they hold towards the brand is key information for developing a strong
andequitable brand. Awareness can be assessed at several levels such as recognition, recall,
or,even more, brand knowledge (what the brand stands for is very well known by
consumers)(Aaker, 1996). Brand awareness is the first and prerequisite dimension of the entire
brandknowledge system in the consumers minds, reflecting their ability to identify the brand
underdifferent conditions: the likelihood that a brand name will come to mind and the ease
withwhich it does so (Keller, 1993). Brand awareness can be bifurcated into brand
recognition(consumers ability to confirm prior exposure to the brand when given the brand as
cue) and The definition adopted here will be: Consumer knowledge is information concerning
themarket stored in consumers long-term memory. By market, I mean the products,
brands,and their environment (consumers and other individuals, legislative provisions
and/orpressure groups, etc.).
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Brand Loyalty
Brand choice could be considered as the central problem of consumer behavior, while the
perceived risk associated to buying decisions is a pivotal aspect of brand choice. Risk is
oftenperceived to be painful in that it may produce anxiety, in which case it must be dealt in
somemanner by the consumer. Among the main functions of a brand from the
consumersperspective is considered to be the minimization of perceived purchasing risk, which
in turnhelps cultivate a trust-based relationship (Keller, 1993).Trust is defined as the willingness
torely on an exchange partner in whom one has confidence. It exists when a party hasconfidence
in an exchange partners reliability and integrity and when they share commongoals and values.
It is a consequence of interdependence due to stable customer experience ofexpectations being
exceeded and of being provided the best value by the existing firm. Brandawareness can
influence consumers perceived risk assessment and their confidence in thepurchase decision,
due to familiarity with the brand and its characteristics. Satisfaction overmultiple interactions
leads to a stage where the customer begins to have faith in the offering and its consistency in
performance. Satisfaction leads to trust when some more antecedentconditions such as shared
values and goals, dependence based on stableexpectation/perception of performance and
perceived switching costs are fulfilled. As per(Niall Fitzgerald, chairman- Unilever plc.), Rooney,
J. A. (1995).
In order to function at all, human societies rely onthe existence of trust. Good brands
invite trust, earn trust, honor trust and reward trust. Goodbrands guard their reputations with their
lives, and if by accident they transgress, theyapologize with grace and true humility -quickly.
Every change that we face in marketingtoday makes the establishment of trust and the
maintenance of trust more necessary and morevaluable, because for consumers the mounting
complexity of choice will make the need fortrust more urgent. It is as promising future for brands
that live up to and deliver on theseexpectations. Customers get committed to a brand when the
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brand achieves personal significance for them.Pradeesh K. N.,&Prasad P. N. (2012). It happens when
the consumers/buyers perceive it to be a part of them. Organizations wereinitially sensitive about
their image and have now become very sensitive about theirreputation. Image is a function of
perception-the basis on which brand evaluations are formed.Reputation has more depth, is more
involving: it is a judgment from the market which needsto be preserved. In any case, reputation
has become a byword as witnessed by the annualsurveys on the most respected companies
(Aaker, 1995).
Reputation signals that although thecompany has many stakeholders, each one reacting to
a specific facet of the company (asemployee, as supplier, as financial investor, as clients and
above all as customers or buyers),in fact they all are sensitive to the global ability of the
company to meet the expectations ofall its stakeholders. As changes in the reputation affect all
stakeholders, companies monitorand manage their reputation closely. Global reputation is a
function of the companiesresponsibility towards the customer (Fombrun, Gragberg and Server,
2000). Companieswhich are responsible towards the customer gain more respect for the brand,
have greaterlevels of consumer engagement and evangelism and above all, form a relationship
with theconsumer. Customers develop relationships with brands through direct experiences and
base theirperception of the brand on this experience, and how that brand compares to other
brands theyhave experienced. The personal experience in which a consumer has with a firm is
the keyfactor in developing or destroying trust (Petromilli and Morrison, 2002 referred to in
NatalieAnn Ryan, 2002). 76 percent of consumers would find it difficult to trust a brand again,
thefirst time did not meet their needs. Since a firms brand is a promise of a certain
experience,the trust or distrust of a brand depends on the experience the consumer has (Dolliver,
2001referred to in Natalie Ann Ryan, 2002).
This is important because it is through thisexperience that customers will decide whether
or not the brand is valuable to them and worthtrust (Temporal and Lee, 2001 referred to in
Natalie Ann Ryan, 2002). Generally, consumersbelieve firms have good intentions and work
hard not to repeat mistakes. They believe mostfirms will do the right thing when faced with a
problem with one of their goods. Still, the factremains true that consumers find it more difficult
to trust brands after the first time of havinga bad experience with the brand (Dolliver, 2001
referred to in Natalie Ann Ryan, 2002).Customer relationships are longer with a firm, when
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customers gain high levels of cumulativesatisfaction for a brand. Conversely, if a customer has a
poor experience with the goods, theywill be less satisfied. They will not seek a long relationship
with a particular brand. When aconsumer is satisfied with a brand, this means they are content
with all parts of the goods thatare related to their needs. Finally, they also trust this brand
(Burton, 2002).
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encompasses the degree towhich a given brand gets incorporated into the self-concept.The
current study focuses on the self-brand connection.Consumers are often engaged in a process of
defining theirself-identities and desired self-images (Escalas, 2004). Brandsare one such
mechanism by which such self-definitional needsare fulfilled (Belk, 1988).
Certain brands possess symbolicassociations that are pivotal to a consumers sense of self
andthus enhance or reinforce the self. Such brands develop strongemotive ties with a consumer
over time, generally culminatingin development of favorable brand attitudes and
behavioralintentions (Escalas, 2004). Self-brand connection is thus auseful construct that
potentially explains prominent brand-related outcomes. In the following section, we discuss the
roleof endorser credibility in the development of self-brandconnection.We expect endorser
credibility and self-brand connection tobe related. Given that consumers often use brands as tools
forcreation and maintenance of self-identity (Belk, 1988), theself-brand connection potentially
signifies a deeper level ofconsumer identification with a brand (Albertet al., 2013).Because
celebrities comprise symbolic inspirational referencegroup associations (Escalas, 2004), we
expect celebrity endorsements to impact self-brand connections (Figure 1). Inthe associative-
network memory theory (Keller, 1993),celebrities represent a type of information node in
consumermemory (Till, 1998). When a brand is linked with a celebritythrough an endorsement
arrangement, associative linksamong nodes are formed in consumer memory (Till, 1998).Once
the nodes are connected, perceived celebrity attributes(meanings) transfer to the endorsed brand
(McCracken,1989). Hence, a celebrity that is perceived as possessingassociations of credibility
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Concept Framework
Brand Uniqueness
Corporate
Association
Brand
Perceived Quality Image
Corporate
Activity
Brand
Loyalty
Corporate
Personaity
Emotional Attachment
Corporate
Value
Symbolic
Benefits
Functional
Benefits
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Hypothesis Development:
Ha1. There is a relationship between brand uniqueness & self connection.
Ho1. There is no relationship between brand uniqueness & self connection.
Ha2. There is a relationship between attitude towards brand & self connection.
Ho2. There is no relationship between attitude towards brand & self connection.
Ha3. There is a relationship between self brand connection & brand advocacy.
Ho3. There is no relationship between self brand connection & brand advocacy.
Ha4. There is a relationship between perceived quality & Self brand connection.
Ho4.There is no relationship between perceived quality & Self brand connection.
Ha5. There is a relationship between corporate association & emotional attachment.
Ho5.There is no relationship between corporate association & emotional attachment.
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Reason: To come closer and extract their thinkings. Communication being the most easiest way
to get response. While collecting information communication was the best way for us in this
study.
Category: The Power of the researcher to produce effects in the variables under study
Option Chosen: Ex post facto
Reason: relational effects to create easily. We produce and gather by this process as most of our
reference works are done by this. Its was followed and was effective for this study.
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Unit: Consumer who are relevant in banks. Such as Teachers, Students, Businessman,
Employees, Social worker, Politician and others.
Demographic: Both the male and female will be chosen for the interview. The participant can be of
any age within the range mentioned in our research questionnaires (from 15 to 31& above).
Variable related: For the first variable Brand image there will be twelve (12) questions. For Self-
brand connections there will be nine (9) questions. For Brand advocacy there will be six (6)
questions. For Brand loyalty there will be twelve (12) questions. For Attitudes towards brand
four (4) questions. For Perceived quality there will be four (4) questions. And for emotional
attachment there will be twenty one (21) questions.
Scale: In this Research paper questionnaire for consumer, scale have to follow Five pointer
Likert Scale:
1. Strongly Disagree
2. Disagree
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4. Agree
5. Strongly Agree
Data collection:In this researchwe collected both primary and secondary data. All data was
collected through structured questionnaire which were distributed to respondent clients in banks.
Primary data:The data will be collected from the provided questionnaire. We also need to use
primary data collection methods which involves direct interview from employees
Secondary data:We collected information about appropriate variables, scale & facts regarding
our study from journal. Some information was also collected from internet and from our text
book (Business research method) which is assigned for BUS- 485 course.
Data Analysis: From a gender perspective, there are 40 male and 20 female among 60
participants which represents 66.7 percent are male and 33.3 are female. As regards to the age
classification of respondents, 33.3 percent were between 15 to 25 years, followed by 33.3 percent
between 26 to 30 years, 33.3 percent between 31 and above. As regards to the income per month
classification of respondents, 18.3 percent were between 5000 to 1000 BDT, followed by 16.7
percent between 10001-20000BDT, 31.7 percent between 20001-35000, 23.3 percent between
35001 and above.
INCOME
35001 &
5000-10000 10001-20000 20001-35000 ABOVE Total
AGE 21-25 9 8 3 0 20
26-30 0 5 11 4 20
31 & ABOVE 2 3 5 10 20
Total 11 16 19 14 60
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From the table we can see that between age gap 21-25, nine person income is 5000-10000,
eight person income is 10001-20000, three person income is 20001-35000. None was for 35001
or above. In Same way we can figure out others.
INCOME
35001 &
5000-10000 10001-20000 20001-35000 ABOVE Total
GENDER MALE 4 10 13 13 40
FEMALE 7 6 6 1 20
Total 11 16 19 14 60
Here we can see male and female income ratio. The differences are well shown in this table.
Details are in appendix A.
INCOME
35001 &
5000-10000 10001-20000 20001-35000 ABOVE Total
AGE 21-25 9 8 3 0 20
31 & ABOVE 0 5 11 4 20
4.00 2 3 5 10 20
Total 11 16 19 14 60
Here we can find age limits and their income according to their age. Detail information is in
appendix A.
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Reliability Analysis:
Brand image
Reliability Statistics
Cronbach's
Alpha Based on
Cronbach's Standardized
Alpha Items N of Items
.866 .864 12
Brand loyalty :
Reliability Statistics
Cronbach's
Alpha Based on
Cronbach's Standardized
Alpha Items N of Items
.813 .818 12
Self-Brand Connection:
Reliability Statistics
Cronbach's
Alpha Based on
Cronbach's Standardized
Alpha Items N of Items
.816 .831 9
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Brand advocacy:
Reliability Statistics
Cronbach's
Alpha Based on
Cronbach's Standardized
Alpha Items N of Items
.141 .675 6
Perceived Quality:
Reliability Statistics
Cronbach's
Alpha Based on
Cronbach's Standardized
Alpha Items N of Items
.477 .503 4
According to Cronbachs Alpha chart, internal consistency of this reliability is UNACCEPTABLE.
Emotional Attachment:
Reliability Statistics
Cronbach's
Alpha Based on
Cronbach's Standardized
Alpha Items N of Items
.765 .437 3
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CORPORATE ASSOCIATION:
Reliability Statistics
Cronbach's
Alpha Based on
Cronbach's Standardized
Alpha Items N of Items
.766 .481 3
CORPORATE ACTIVITY:
Reliability Statistics
Cronbach's
Alpha Based on
Cronbach's Standardized
Alpha Items N of Items
.663 .653 3
CORPORATE PERSONALITY:
Reliability Statistics
Cronbach's
Alpha Based on
Cronbach's Standardized
Alpha Items N of Items
.262 .264 2
CORPORATE VALUE:
Reliability Statistics
Cronbach's
Alpha Based on
Cronbach's Standardized
Alpha Items N of Items
.655 .665 2
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Symbolic Benefits:
Reliability Statistics
Cronbach's Alpha
Based on
Cronbach's Alpha Standardized Items N of Items
.795 .499 2
FUNCTIONAL BENEFITS:
Reliability Statistics
Cronbach's
Alpha Based on
Cronbach's Standardized
Alpha Items N of Items
.561 .563 2
Cronbach's
Alpha Based on
Cronbach's Standardized
Alpha Items N of Items
.637 .637 4
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BRAND UNIQUENESS:
Reliability Statistics
Cronbach's
Alpha Based on
Cronbach's Standardized
Alpha Items N of Items
.632 .645 4
6. Limitations
We acknowledge the limitations of our study. These limitations what made our study
difficult in some cases to carry on. But we still manage to overcome these limitations and
carried out our job.
1. This study used a convenience topic in private banks in Bangladesh. So some cases
we faced difficulty to get respond from the customers.
2. We collected data from a questionnaire which had lots of question in it. This made the
customer less interested in the phase of collecting response.
3. All of the private banks we have chosen only two to three of them. A large number of
banks to survey would give us more information. Due to shortage of time and
resource it was not possible.
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This is an indication that most of the banks do not change their brands frequently because it is
associated with customer loyalty and retention. It was also evident that most of the banks have
branding departments that handle all the issues on branding of their institutions and products that
are offered to their customers. It was also clear that most of the commercial banks have been in
operation for more than 15 years an indication that they have a wealth of experience on branding
strategies and its effect on customer loyalty. It was established that most of the banks have high
customer loyalty levels based on the customer loyalty indicators that were used in this study. For
instance the findings reveal that most of the commercial banks have customers who have
maintained their bank accounts for a very long time averagely more than five years. The findings
also indicated that banks do not have high customer turnover and account closures since most of
the customers they have prefer staying with their respective banks even if they feel offended
occasionally. It was further clear that commercial banks also benefit from word of mouth
marketing from their existing customers who in most cases refer other potential customers to the
bank. The other customer loyalty indicator is that most new customers do not close their
accounts as soon as they are opened but instead stay for more than five years. It was also evident
from the study findings that customers provide important advice to the bank on how to improve
its services rather quit for another bank. It was also established that the bannk use a number of
branding strategies that assist in enhancing their customer loyalty. One such branding strategy
that is widely used by them is the use of the bank name as a brand. Most of the commercial
banks often use their bank names in addition to a product brand name.
This assists the banks to differentiate their products from similar ones that are provided by
other competitors in the market. The study also revealed that the banks may also use multi-
brands as one of their brandings strategies. This implies that commercial banks may use several
brands for various products. However, the use of several brands is only possible if the bank
brand name is also included. Branding each of the products was also found to be common among
commercial banks and the same case applies to using of the organizational brand and brand
extension. The study established that there is a strong positive correlation between branding
strategies and customer loyalty among commercial banks. For example the correlation results
indicate that there exists a strong positive correlation between branding and retention of
customers, creating confidence among customers, and customer staying because of a strong
brand name. Branding is a very significant element of customer loyalty among commercial banks
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in Kenya. Most banks have demonstrated this significance by establishing departments that deal
with all the branding issues that they face. The most common branding strategies among
commercial banks are the use of the bank name alongside other brands for their products; use of
multi-brands strategy; use of brand extension strategy; use of the organizational brand as well as
use of several brands. Banks also indicated that their customer loyalty levels are high through
various indicators such as operating accounts for long, opting to remain with the bank even if
occasionally offended, low customer turnovers and referral of other potential customers by
existing customers.
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APPENDIX: A
Frequencies
Statistics
GENDER
N Valid 60
Missing 0
Table 01
GENDER
Cumulative
Frequency Percent Valid Percent Percent
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Table 02
AGE
Cumulative
Frequency Percent Valid Percent Percent
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Table 03
INCOME
Cumulative
Frequency Percent Valid Percent Percent
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Table 04
Crosstabs
Cases
Table 05
AGE
GENDER MALE 11 14 15 40
FEMALE 9 6 5 20
Total 20 20 20 60
Table 06
INCOME
35001 &
5000-10000 10001-20000 20001-35000 ABOVE Total
GENDER MALE 4 10 13 13 40
FEMALE 7 6 6 1 20
Total 11 16 19 14 60
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INCOME
35001 &
5000-10000 10001-20000 20001-35000 ABOVE Total
AGE 21-25 9 8 3 0 20
31 & ABOVE 0 5 11 4 20
4.00 2 3 5 10 20
Total 11 16 19 14 60
Reliability
N %
Excludeda 0 .0
Total 60 100.0
a. List wise deletion based on all variables in the
procedure.
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BRAND IMAGE:
Item Statistics
Reliability Statistics
Cronbach's
Alpha Based on
Cronbach's Standardized
Alpha Items N of Items
.866 .864 12
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BRAND LOYALTY:
Item Statistics
Reliability Statistics
Cronbach's
Alpha Based on
Cronbach's Standardized
Alpha Items N of Items
.813 .818 12
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Item Statistics
Reliability Statistics
Cronbach's
Alpha Based on
Cronbach's Standardized
Alpha Items N of Items
.816 .831 9
BRAND ADVOCACY:
Item Statistics
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Reliability Statistics
Cronbach's
Alpha Based on
Cronbach's Standardized
Alpha Items N of Items
.141 .675 6
PERCECIVED QUALITY:
Item Statistics
Reliability Statistics
Cronbach's
Alpha Based on
Cronbach's Standardized
Alpha Items N of Items
.477 .503 4
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EMOTIONAL ATTACHMENT:
Item Statistics
Reliability Statistics
Cronbach's
Alpha Based on
Cronbach's Standardized
Alpha Items N of Items
.765 .437 3
CORPORATE ASSOCIATION:
Item Statistics
Reliability Statistics
Cronbach's
Alpha Based on
Cronbach's Standardized
Alpha Items N of Items
.766 .481 3
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CORPORATE ACTIVITY:
Item Statistics
Reliability Statistics
Cronbach's
Alpha Based on
Cronbach's Standardized
Alpha Items N of Items
.663 .653 3
CORPORATE PERSONALITY:
Item Statistics
Reliability Statistics
Cronbach's
Alpha Based on
Cronbach's Standardized
Alpha Items N of Items
.262 .264 2
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CORPORATE VALUE:
Item Statistics
Reliability Statistics
Cronbach's
Alpha Based on
Cronbach's Standardized
Alpha Items N of Items
.655 .665 2
SYMBOLIC BENEFITS:
Item Statistics
Reliability Statistics
Cronbach's Alpha
Based on
Cronbach's Alpha Standardized Items N of Items
.795 .499 2
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FUNCTIONAL BENEFITS:
Item Statistics
Reliability Statistics
Cronbach's
Alpha Based on
Cronbach's Standardized
Alpha Items N of Items
.561 .563 2
Item Statistics
Reliability Statistics
Cronbach's
Alpha Based on
Cronbach's Standardized
Alpha Items N of Items
.637 .637 4
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BRAND UNIQUENESS:
Item Statistics
Reliability Statistics
Cronbach's
Alpha Based on
Cronbach's Standardized
Alpha Items N of Items
.632 .645 4
HYPOTHESIS:
Correlations
N 60 60
N 60 60
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Correlations
Correlations
N 60 60
N 60 60
**. Correlation is significant at the 0.01 level (2-tailed).
N 60 60
N 60 60
**. Correlation is significant at the 0.01 level (2-tailed).
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Correlations
N 60 60
N 60 60
**. Correlation is significant at the 0.01 level (2-tailed).
Correlations
N 60 60
N 60 60
**. Correlation is significant at the 0.01 level (2-tailed).
Correlations
ATTITUDE
TOWARDS SELF BRAND
BRANDS CONNECTION
N 60 60
N 60 60
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Correlations
ATTITUDE
TOWARDS SELF BRAND
BRANDS CONNECTION
N 60 60
N 60 60
**. Correlation is significant at the 0.01 level (2-tailed).
Correlations
ATTITUDE
TOWARDS SELF BRAND
BRANDS CONNECTION
N 60 60
N 60 60
**. Correlation is significant at the 0.01 level (2-tailed).
Correlations
N 60 60
N 60 60
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The Impact of Brand uniqueness, self-brand connection on Brand Image, advocacy
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Correlations
N 60 60
N 60 60
**. Correlation is significant at the 0.01 level (2-tailed).
Correlations
N 60 60
N 60 60
**. Correlation is significant at the 0.01 level (2-tailed).
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Correlations
N 60 60
N 60 60
**. Correlation is significant at the 0.01 level (2-tailed).
Correlations
N 60 60
N 60 60
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Correlations
PERCEIVED
QUALITY BRAND IMAGE
N 60 60
N 60 60
**. Correlation is significant at the 0.01 level (2-tailed).
Correlations
PERCEIVED
QUALITY BRAND IMAGE
N 60 60
BRAND IMAGE Pearson Correlation .562** 1
N 60 60
**. Correlation is significant at the 0.01 level (2-tailed).
Correlations
PERCEIVED BRAND
QUALITY LOYALTY
N 60 60
N 60 60
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Correlations
PERCEIVED BRAND
QUALITY LOYALTY
N 60 60
N 60 60
**. Correlation is significant at the 0.01 level (2-tailed).
Correlations
PERCEIVED BRAND
QUALITY LOYALTY
N 60 60
BRAND LOYALTY Pearson Correlation .590** 1
N 60 60
**. Correlation is significant at the 0.01 level (2-tailed).
Correlations
CORPORATE EMOTIONAL
ASSOCIATION ATTACHMENT
N 60 60
N 60 60
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Correlations
CORPORATE EMOTIONAL
ASSOCIATION ATTACHMENT
N 60 60
N 60 60
*. Correlation is significant at the 0.05 level (2-tailed).
Correlations
CORPORATE EMOTIONAL
ASSOCIATION ATTACHMENT
N 60 60
N 60 60
**. Correlation is significant at the 0.01 level (2-tailed).
Correlations
EMOTIONAL CORPORATE
ATTACHMENT ACTIVITY
N 60 60
N 60 60
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Correlations
EMOTIONAL CORPORATE
ATTACHMENT ACTIVITY
N 60 60
N 60 60
**. Correlation is significant at the 0.01 level (2-tailed).
Correlations
EMOTIONAL CORPORATE
ATTACHMENT ACTIVITY
N 60 60
N 60 60
**. Correlation is significant at the 0.01 level (2-tailed).
Correlations
EMOTIONAL CORPORATE
ATTACHMENT PERSONALITY
N 60 60
N 60 60
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Correlations
EMOTIONAL CORPORATE
ATTACHMENT PERSONALITY
N 60 60
N 60 60
**. Correlation is significant at the 0.01 level (2-tailed).
Correlations
EMOTIONAL CORPORATE
ATTACHMENT PERSONALITY
N 60 60
N 60 60
**. Correlation is significant at the 0.01 level (2-tailed).
Correlations
EMOTIONAL CORPORATE
ATTACHMENT VALUE
N 60 60
N 60 60
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Correlations
EMOTIONAL CORPORATE
ATTACHMENT VALUE
N 60 60
N 60 60
**. Correlation is significant at the 0.01 level (2-tailed).
Correlations
EMOTIONAL CORPORATE
ATTACHMENT VALUE
N 60 60
N 60 60
**. Correlation is significant at the 0.01 level (2-tailed).
Correlations
EMOTIONAL SYMBOLIC
ATTACHMENT BENEFITS
N 60 60
N 60 60
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Correlations
EMOTIONAL SYMBOLIC
ATTACHMENT BENEFITS
N 60 60
N 60 60
**. Correlation is significant at the 0.01 level (2-tailed).
Correlations
EMOTIONAL SYMBOLIC
ATTACHMENT BENEFITS
N 60 60
N 60 60
**. Correlation is significant at the 0.01 level (2-tailed).
Correlations
EMOTIONAL FUNCTIONAL
ATTACHMENT BENEFITS
N 60 0
Sig. (2-tailed) . .
N 0 0
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Correlations
EMOTIONAL FUNCTIONAL
ATTACHMENT BENEFITS
N 60 0
Sig. (2-tailed) .
N 0 0
a. Cannot be computed because at least one of the variables is constant.
Correlations
EMOTIONAL
ATTACHMENT BRAND IMAGE
N 60 60
N 60 60
**. Correlation is significant at the 0.01 level (2-tailed).
Correlations
EMOTIONAL
ATTACHMENT BRAND IMAGE
N 60 60
N 60 60
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Correlations
EMOTIONAL
ATTACHMENT BRAND IMAGE
N 60 60
N 60 60
**. Correlation is significant at the 0.01 level (2-tailed).
Correlations
EMOTIONAL BRAND
ATTACHMENT LOYALTY
N 60 60
N 60 60
**. Correlation is significant at the 0.01 level (2-tailed).
Correlations
EMOTIONAL BRAND
ATTACHMENT LOYALTY
N 60 60
N 60 60
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Correlations
EMOTIONAL BRAND
ATTACHMENT LOYALTY
N 60 60
N 60 60
**. Correlation is significant at the 0.01 level (2-tailed).
Regression
Variables Entered/Removedb
Variables Variables
Model Entered Removed Method
1 BRAND . Enter
a
UNIQUENESS
a. All requested variables entered.
b. Dependent Variable: SELF BRAND CONNECTION
Model Summary
ANOVAb
Total 19.868 59
a. Predictors: (Constant), BRAND UNIQUENESS
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ANOVAb
Total 19.868 59
a. Predictors: (Constant), BRAND UNIQUENESS
b. Dependent Variable: SELF BRAND CONNECTION
Coefficientsa
Standardized
Unstandardized Coefficients Coefficients
Variables Entered/Removedb
Variables Variables
Model Entered Removed Method
1 ATTITUDE . Enter
TOWARDS
BRANDSa
a. All requested variables entered.
b. Dependent Variable: SELF BRAND CONNECTION
Model Summary
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ANOVAb
Total 19.868 59
a. Predictors: (Constant), ATTITUDE TOWARDS BRANDS
b. Dependent Variable: SELF BRAND CONNECTION
Coefficientsa
Standardized
Unstandardized Coefficients Coefficients
Variables Entered/Removedb
Variables Variables
Model Entered Removed Method
Model Summary
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ANOVAb
Total 54.916 59
a. Predictors: (Constant), SELF BRAND CONNECTION
b. Dependent Variable: BRAND ADVOCACY
Coefficientsa
Standardized
Unstandardized Coefficients Coefficients
Variables Entered/Removedb
Variables Variables
Model Entered Removed Method
1 PERCEIVED . Enter
QUALITYa
a. All requested variables entered.
b. Dependent Variable: SELF BRAND CONNECTION
Model Summary
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Model Summary
ANOVAb
Total 19.868 59
a. Predictors: (Constant), PERCEIVED QUALITY
b. Dependent Variable: SELF BRAND CONNECTION
Coefficientsa
Standardized
Unstandardized Coefficients Coefficients
Variables Entered/Removedb
Variables Variables
Model Entered Removed Method
1 PERCEIVED . Enter
a
QUALITY
a. All requested variables entered.
b. Dependent Variable: BRAND IMAGE
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Model Summary
ANOVAb
Total 16.587 59
a. Predictors: (Constant), PERCEIVED QUALITY
b. Dependent Variable: BRAND IMAGE
Coefficientsa
Standardized
Unstandardized Coefficients Coefficients
Variables Entered/Removedb
Variables Variables
Model Entered Removed Method
1 PERCEIVED . Enter
a
QUALITY
a. All requested variables entered.
b. Dependent Variable: BRAND LOYALTY
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The Impact of Brand uniqueness, self-brand connection on Brand Image, advocacy
& Loyalty: A research on private Banks in Bangladesh Group: 03
Model Summary
ANOVAb
Total 13.162 59
a. Predictors: (Constant), PERCEIVED QUALITY
b. Dependent Variable: BRAND LOYALTY
Coefficientsa
Standardized
Unstandardized Coefficients Coefficients
Variables Entered/Removedb
Variables Variables
Model Entered Removed Method
1 EMOTIONAL . Enter
ATTACHMENT
a
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The Impact of Brand uniqueness, self-brand connection on Brand Image, advocacy
& Loyalty: A research on private Banks in Bangladesh Group: 03
Model Summary
ANOVAb
Total 13.162 59
a. Predictors: (Constant), EMOTIONAL ATTACHMENT
b. Dependent Variable: BRAND LOYALTY
Coefficientsa
Standardized
Unstandardized Coefficients Coefficients
Variables Entered/Removedb
Variables Variables
Model Entered Removed Method
1 EMOTIONAL . Enter
ATTACHMENT
a
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The Impact of Brand uniqueness, self-brand connection on Brand Image, advocacy
& Loyalty: A research on private Banks in Bangladesh Group: 03
Model Summary
ANOVAb
Total 16.587 59
a. Predictors: (Constant), EMOTIONAL ATTACHMENT
b. Dependent Variable: BRAND IMAGE
Coefficientsa
Standardized
Unstandardized Coefficients Coefficients
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The Impact of Brand uniqueness, self-brand connection on Brand Image, advocacy
& Loyalty: A research on private Banks in Bangladesh Group: 03
APPENDIX: B
Research Questionnaires:
This research is conducted for academic purposes only. So please dont hesitate to answer. Your
information will be kept confidential.
1. Male Female
2. Age 3. Income
i) 15-20 i) 5000-10000
ii) 21-25 ii) 10001-20000
iii) 26-30 iii) 20001-35000
iv) 31-above iv) 35001-above
4. Occupation
8. Business with this bank would not become a mistake for you. 1 2 3 4 5
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The Impact of Brand uniqueness, self-brand connection on Brand Image, advocacy
& Loyalty: A research on private Banks in Bangladesh Group: 03
11. You are satisfied with the banks response to your complaint. 1 2 3 4 5
BRAND LOYALTY
14. If you switched to a new bank, the service offered by the new bank 1 2 3 4 5
to solve my problem.
16. You would lose a lot of information about my transaction history if` 1 2 3 4 5
you change.
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The Impact of Brand uniqueness, self-brand connection on Brand Image, advocacy
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BRAND ADVOCACY
40. You believe that the bank can provide service recovery 1 2 3 4 5
41. You believe that the bank can effectively solve problems 1 2 3 4 5
42. You believe that the telecom is very concerned with customers 1 2 3 4 5
interests.
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to this bank.
significant
48. Is rapid technological advancement provide many brand choice 1 2 3 4 5
49. Dose firm need to establish and maintain a strong brand 1 2 3 4 5
50. Do you think that luxury brands deliver multi-faceted benefits 1 2 3 4 5
52. Do you think customer emotional attachment for brand should test 1 2 3 4 5
management
practice
59. Do you think point of sales can enrich the shopping experience of 1 2 3 4 5
customer
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Customer
BRAND UNIQUENESS
Quality
norm
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