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Download Luận văn Testing a Model of CUSTOMER-BASED BRAND EQUITY In The Vietnamese Banking Service
TABLE OF CONTENT
Acknowledgement.i
Abstract .ii
TABLE OF CONTENT . iii
LIST OF FIGURES.v
Chapter 1: INTRODUCTION.1
1.1 Introduction .1
1.2 Research background.1
1.3 Problem statement .2
1.4 Research objective.3
1.5 Scope and methodology of the study .4
1.5.1 Scope of the study.4
1.5.2 Research Method .5
1.6 Structure of the study.5
Chapter 2: LITERATURE REVIEW.7
2.1 Introduction .7
2.2 A brand versus a product .7
2.3 Brand equity .11
2.3.1 Brand associations .13
2.3.2 Brand evaluations .19
2.3.3 Customer-brand relationship .22
2.4 Generation of hypotheses .24
2.5 Conclusion .25
Chapter 3: METHODOLOGY .27
3.1. Introduction .27
3.2. Business research .27
3.3. Research design .28
3.4. Item generation.29
3.4.1 Scale to measure rational associations.29
Scale to measure price. .31
3.4.2 Scale to measure rational and emotional associations.32
Scale to measure brand promise. .32
3.4.3 Scale to measure brand evaluations .32
3.4.4 Scale to measure customer- brand relationship .33
3.5. Pilot test .33
3.6. Main survey .34
3.6.1 Brand selection .35
3.6.2 Sampling .35
3.6.3 Sample size .36
3.7. Conclusion.36
Chapter 4: DATA ANALYSIS AND FINDINGS.38
4.1 Introduction .38
4.2. Descriptions of sample .38
4.3. Scales assessment .40
4.3.1 Reliability testing .40
4.3.2 Exploratory factor analysis .42
4.4 Testing the research model and the hypotheses .46
4.4.1 Testing correlations between all constructs .46
4.4.2 Testing research model .46
4.5 Findings and conclusion .56
4.5.1 Findings .56
4.5.2 Conclusion .58
Chapter 5:
CONCLUSIONS AND IMPLICATIONS.59
5.1 Introduction .59
5.2 Conclusions of the study .59
5.2.1 Summary of all hypotheses.59
5.2.2 Conclusions of the study.60
5.3 Implications of the study .61
5.3.1 Theoretical implications .61
5.3.2 Practical implications.62
5.4 Limitations and recommendations for further research .63
List of References .65
Appendix 1 – Questionnaire (Vietnamese version) . 68
Appendix 2 – Observed variables .71
Appendix 3 - Descriptive Statistics of variables .73
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developing customer brand relationships or bonding, and that an important element in
this connection is loyalty (Martensen and Grønholdt, 2004).
Aaker (1991) views brand loyalty as a dimension of brand equity. In the CBBE
pyramid developed by Keller (2001), brand loyalty is at the top of the building blocks
and is characterized in term of intensive relationship.
Despite its apparent benefits to any firm, loyalty is viewed quite differently from
different perspectives. This might result from the variety of the customer’s perceptions
about the value that a brand delivers. Jacoby & Chestnut (1978) define brand loyalty as
a result of two components: “1) A favorable attitude toward the brand, and 2)
Repurchase of the brand over time.” (Cited in Martensen and Grønholdt, 2004)
One of the broadest definitions of loyalty is of Oliver (1999) which describes
loyalty as “a deeply Giúp commitment to re-buy or re-patronize a preferred
product/service consistently in the future, thereby causing repetitive same-brand or
same brand set purchasing, despite situational influences and marketing efforts having
the potential to cause switching behavior”.
According to Oliver (1999), customers become loyal in four phases. At the
shallowest level, called cognitive loyalty, loyalty might result from the belief of the
customer in the brand. The brand information is either retrieved from vicarious
23
knowledge about the brand (from communication, word of mouth…) or current
experience-based information. At this stage, if the satisfaction does not involve then
the depth of loyalty is merely the brand performance.
Loyalty shifts to the next phase if satisfaction steps in. At this phase, attitudes
toward the brand are formed basing on satisfaction, or pleasure accumulated through
the consumption of the brand. Commitment at this episode is referred as affective
loyalty. Though loyalty in this stage is at deeper level than cognitive loyalty is and not
as easily dislodged, it’s still venerable to switching.
It is desirable if loyalty moves to a deeper level, the conative loyalty (behavioral
intention). The development of loyalty at this phase is based on repetitive positive
experience with the brand. It reflects the customer favorable intention toward the brand
such as deeply commitment to buy. However, Oliver argues that this desire is rather the
repurchase intention and motivation, and may be “anticipated but unrealized”.
The ultimate phase of loyalty proposed by Oliver is action loyalty (other authors
refer to as behavioral loyalty – Dick and Basu, 1994; Keller, 2001). At this phase, not
only the intention to re-buy is shifted to the action of re-buying (and “repeat
purchases”, Keller 2001) but also that desire engages in “overcoming obstacles”
Martensen and Grønholdt (2004) adapt a more operational point of view:
”Customer loyalty has two sides to it, which on the one hand results in an effective
continuation and extension of the business partnership, and on the other hand in a
recommendation of the supplier, the brand, the product or the services for other
potential customers.” According to them, customer loyalty takes place when the
customer keeps on maintaining the relation with the company in terms of repurchases
and purchase intention which can predict future behavior, and on the other hand, the
loyalty will result in re-patronizing the company to purchase other products.
However, Martensen and Grønholdt (2004) also agree that loyalty is also portrayed
24
as certain attitudinal loyalty (this is characterized as affective loyalty by Oliver) where
the customer thinks that the company is distinctive and particularly attractive compared
to its rivals. This is also in line with Oliver (1997) that the customer’s experiences with
the company and its products are accumulated in a positive way as mentioned above
(conative loyalty).
In the banking industry, research by Colgate and Norris (2000) into the reasons
that the customers switch or stay with their bank after a service failure shows that a
majority of customers “who felt a strong sense of loyalty to their bank” decide to stay.
According Colgate, this loyalty might result from the customer’s confidence with the
relationship they have shaped with the service provider.
2.4 Generation of hypotheses
Basing on the above literature review and the research questions, to test the model of
CBBE in banking industry, some hypotheses are suggested below:
Brand evaluations
As mentioned previously, rational and emotional evaluations are made basing on the
customer’s perception about rational and emotional brand associations that they have
with the brand. Therefore, the following hypotheses are produced:
H1: Rational evaluation is positively related to perceived service quality
H2: Rational evaluation is positively related to price competitiveness
H3: Rational evaluation is positively related to brand promise
H4: Rational evaluation is positively related to brand differentiation
H5: Rational evaluation is positively related to brand trust and credibility
H6: Emotional evaluation is positively related to perceived service quality
H7: Emotional evaluation is positively related to price competitiveness
H8: Emotional evaluation is positively related to brand promise
H9: Emotional evaluation is positively related to brand differentiation
H10: Emotional evaluation is positively related to brand trust and credibility
Martensen & Grønholdt (2004) argue that emotional evaluation has positive
25
relationship. i.e when the customers have a high liking for a brand, they tend to be
more satisfied with the brand.
H11: Rational evaluation is positively related to emotional evaluation
Customer- brand relationships
According to this model, customer-brand relationships do not directly relate to brand
associations but through the customer’s evaluations. Therefore, another set of
hypotheses are proposed:
H12: Customer- brand relationships is positively related to rational evaluation
H13: Customer- brand relationships is positively related to emotional evaluation
2.5 Conclusion
This chapter provides theoretical framework for the research. However, with the
reason regarding the product quality aspect as discussed above, a research model
without the product quality component is suggested below (Figure 2.4). The researcher
also assumes that there should be some adjustments of the measurement scale in order
to make the research model more suitable for the banking industry in Vietnam.
Chapter 3 will discuss this matter in more details.
26
Figure 2.4. Research Model of Customer-Based Brand Equity
Rational associations Brand Evaluations
Customer-Brand
Relationship
Service quality
Price
Promise
Trust and
Credibility
Rational
Evaluation
Emotional
Evaluation
Differentiation
H1
H2
H3
H4
H5
H6
H7
H8
H9
H10
H11
H12
H13
Rational and emotional associations
Source: Adapted from Martensen & Grønholdt (2004)
27
Chapter 3: METHODOLOGY
3.1. Introduction
The previous chapter provides theoretical framework for the research. This chapter
provides an overview of business research and introduces research methodology used
to build and assess the measurement scales, the statistical techniques employed to
analyze the data, and testing the research hypotheses and research model as well. The
chapter outline is shown in figure 3.1
Figure 3.1. Outline of chapter 3
3.2. Business research
Business research is defined “as a systematic inquiry whose objective is to provide
information to solve a managerial problem” (Donald R.C & Pamela S.S., 2003). There
are some ways to classify business research. It can be classified based on
characteristics of the data, source of the data, the purpose of research or the frequency
of study.
3.1 Introduction
3.3 Research design
3.4 Item generation
3.5 Pilot test
3.6 Main study
3.7 Conclusion
3.2 Business research
28
Based on the purpose of research, researchers often use one of the following three
types.
Exploratory study: This is the basic level of research. Researchers use this type
when there is a need to clarify the understanding of a problem, or when the researcher
is uncertain about which theory is relevant or can be applied to explain the nature of
phenomena.
Descriptive study: The objective of descriptive studies is “to portray an accurate
profile of persons, events or situations” (Robson, 1993). This may be an extension of
an exploratory research. It is necessary to have a clear picture of the characteristics of
which the data will be collected prior t...
Download miễn phí Luận văn Testing a Model of CUSTOMER-BASED BRAND EQUITY In The Vietnamese Banking Service
TABLE OF CONTENT
Acknowledgement.i
Abstract .ii
TABLE OF CONTENT . iii
LIST OF FIGURES.v
Chapter 1: INTRODUCTION.1
1.1 Introduction .1
1.2 Research background.1
1.3 Problem statement .2
1.4 Research objective.3
1.5 Scope and methodology of the study .4
1.5.1 Scope of the study.4
1.5.2 Research Method .5
1.6 Structure of the study.5
Chapter 2: LITERATURE REVIEW.7
2.1 Introduction .7
2.2 A brand versus a product .7
2.3 Brand equity .11
2.3.1 Brand associations .13
2.3.2 Brand evaluations .19
2.3.3 Customer-brand relationship .22
2.4 Generation of hypotheses .24
2.5 Conclusion .25
Chapter 3: METHODOLOGY .27
3.1. Introduction .27
3.2. Business research .27
3.3. Research design .28
3.4. Item generation.29
3.4.1 Scale to measure rational associations.29
Scale to measure price. .31
3.4.2 Scale to measure rational and emotional associations.32
Scale to measure brand promise. .32
3.4.3 Scale to measure brand evaluations .32
3.4.4 Scale to measure customer- brand relationship .33
3.5. Pilot test .33
3.6. Main survey .34
3.6.1 Brand selection .35
3.6.2 Sampling .35
3.6.3 Sample size .36
3.7. Conclusion.36
Chapter 4: DATA ANALYSIS AND FINDINGS.38
4.1 Introduction .38
4.2. Descriptions of sample .38
4.3. Scales assessment .40
4.3.1 Reliability testing .40
4.3.2 Exploratory factor analysis .42
4.4 Testing the research model and the hypotheses .46
4.4.1 Testing correlations between all constructs .46
4.4.2 Testing research model .46
4.5 Findings and conclusion .56
4.5.1 Findings .56
4.5.2 Conclusion .58
Chapter 5:
CONCLUSIONS AND IMPLICATIONS.59
5.1 Introduction .59
5.2 Conclusions of the study .59
5.2.1 Summary of all hypotheses.59
5.2.2 Conclusions of the study.60
5.3 Implications of the study .61
5.3.1 Theoretical implications .61
5.3.2 Practical implications.62
5.4 Limitations and recommendations for further research .63
List of References .65
Appendix 1 – Questionnaire (Vietnamese version) . 68
Appendix 2 – Observed variables .71
Appendix 3 - Descriptive Statistics of variables .73
Để tải bản DOC Đầy Đủ xin Trả lời bài viết này, Mods sẽ gửi Link download cho bạn sớm nhất qua hòm tin nhắn.
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Nhận download tài liệu miễn phí
Tóm tắt nội dung:
ilding step isdeveloping customer brand relationships or bonding, and that an important element in
this connection is loyalty (Martensen and Grønholdt, 2004).
Aaker (1991) views brand loyalty as a dimension of brand equity. In the CBBE
pyramid developed by Keller (2001), brand loyalty is at the top of the building blocks
and is characterized in term of intensive relationship.
Despite its apparent benefits to any firm, loyalty is viewed quite differently from
different perspectives. This might result from the variety of the customer’s perceptions
about the value that a brand delivers. Jacoby & Chestnut (1978) define brand loyalty as
a result of two components: “1) A favorable attitude toward the brand, and 2)
Repurchase of the brand over time.” (Cited in Martensen and Grønholdt, 2004)
One of the broadest definitions of loyalty is of Oliver (1999) which describes
loyalty as “a deeply Giúp commitment to re-buy or re-patronize a preferred
product/service consistently in the future, thereby causing repetitive same-brand or
same brand set purchasing, despite situational influences and marketing efforts having
the potential to cause switching behavior”.
According to Oliver (1999), customers become loyal in four phases. At the
shallowest level, called cognitive loyalty, loyalty might result from the belief of the
customer in the brand. The brand information is either retrieved from vicarious
23
knowledge about the brand (from communication, word of mouth…) or current
experience-based information. At this stage, if the satisfaction does not involve then
the depth of loyalty is merely the brand performance.
Loyalty shifts to the next phase if satisfaction steps in. At this phase, attitudes
toward the brand are formed basing on satisfaction, or pleasure accumulated through
the consumption of the brand. Commitment at this episode is referred as affective
loyalty. Though loyalty in this stage is at deeper level than cognitive loyalty is and not
as easily dislodged, it’s still venerable to switching.
It is desirable if loyalty moves to a deeper level, the conative loyalty (behavioral
intention). The development of loyalty at this phase is based on repetitive positive
experience with the brand. It reflects the customer favorable intention toward the brand
such as deeply commitment to buy. However, Oliver argues that this desire is rather the
repurchase intention and motivation, and may be “anticipated but unrealized”.
The ultimate phase of loyalty proposed by Oliver is action loyalty (other authors
refer to as behavioral loyalty – Dick and Basu, 1994; Keller, 2001). At this phase, not
only the intention to re-buy is shifted to the action of re-buying (and “repeat
purchases”, Keller 2001) but also that desire engages in “overcoming obstacles”
Martensen and Grønholdt (2004) adapt a more operational point of view:
”Customer loyalty has two sides to it, which on the one hand results in an effective
continuation and extension of the business partnership, and on the other hand in a
recommendation of the supplier, the brand, the product or the services for other
potential customers.” According to them, customer loyalty takes place when the
customer keeps on maintaining the relation with the company in terms of repurchases
and purchase intention which can predict future behavior, and on the other hand, the
loyalty will result in re-patronizing the company to purchase other products.
However, Martensen and Grønholdt (2004) also agree that loyalty is also portrayed
24
as certain attitudinal loyalty (this is characterized as affective loyalty by Oliver) where
the customer thinks that the company is distinctive and particularly attractive compared
to its rivals. This is also in line with Oliver (1997) that the customer’s experiences with
the company and its products are accumulated in a positive way as mentioned above
(conative loyalty).
In the banking industry, research by Colgate and Norris (2000) into the reasons
that the customers switch or stay with their bank after a service failure shows that a
majority of customers “who felt a strong sense of loyalty to their bank” decide to stay.
According Colgate, this loyalty might result from the customer’s confidence with the
relationship they have shaped with the service provider.
2.4 Generation of hypotheses
Basing on the above literature review and the research questions, to test the model of
CBBE in banking industry, some hypotheses are suggested below:
Brand evaluations
As mentioned previously, rational and emotional evaluations are made basing on the
customer’s perception about rational and emotional brand associations that they have
with the brand. Therefore, the following hypotheses are produced:
H1: Rational evaluation is positively related to perceived service quality
H2: Rational evaluation is positively related to price competitiveness
H3: Rational evaluation is positively related to brand promise
H4: Rational evaluation is positively related to brand differentiation
H5: Rational evaluation is positively related to brand trust and credibility
H6: Emotional evaluation is positively related to perceived service quality
H7: Emotional evaluation is positively related to price competitiveness
H8: Emotional evaluation is positively related to brand promise
H9: Emotional evaluation is positively related to brand differentiation
H10: Emotional evaluation is positively related to brand trust and credibility
Martensen & Grønholdt (2004) argue that emotional evaluation has positive
25
relationship. i.e when the customers have a high liking for a brand, they tend to be
more satisfied with the brand.
H11: Rational evaluation is positively related to emotional evaluation
Customer- brand relationships
According to this model, customer-brand relationships do not directly relate to brand
associations but through the customer’s evaluations. Therefore, another set of
hypotheses are proposed:
H12: Customer- brand relationships is positively related to rational evaluation
H13: Customer- brand relationships is positively related to emotional evaluation
2.5 Conclusion
This chapter provides theoretical framework for the research. However, with the
reason regarding the product quality aspect as discussed above, a research model
without the product quality component is suggested below (Figure 2.4). The researcher
also assumes that there should be some adjustments of the measurement scale in order
to make the research model more suitable for the banking industry in Vietnam.
Chapter 3 will discuss this matter in more details.
26
Figure 2.4. Research Model of Customer-Based Brand Equity
Rational associations Brand Evaluations
Customer-Brand
Relationship
Service quality
Price
Promise
Trust and
Credibility
Rational
Evaluation
Emotional
Evaluation
Differentiation
H1
H2
H3
H4
H5
H6
H7
H8
H9
H10
H11
H12
H13
Rational and emotional associations
Source: Adapted from Martensen & Grønholdt (2004)
27
Chapter 3: METHODOLOGY
3.1. Introduction
The previous chapter provides theoretical framework for the research. This chapter
provides an overview of business research and introduces research methodology used
to build and assess the measurement scales, the statistical techniques employed to
analyze the data, and testing the research hypotheses and research model as well. The
chapter outline is shown in figure 3.1
Figure 3.1. Outline of chapter 3
3.2. Business research
Business research is defined “as a systematic inquiry whose objective is to provide
information to solve a managerial problem” (Donald R.C & Pamela S.S., 2003). There
are some ways to classify business research. It can be classified based on
characteristics of the data, source of the data, the purpose of research or the frequency
of study.
3.1 Introduction
3.3 Research design
3.4 Item generation
3.5 Pilot test
3.6 Main study
3.7 Conclusion
3.2 Business research
28
Based on the purpose of research, researchers often use one of the following three
types.
Exploratory study: This is the basic level of research. Researchers use this type
when there is a need to clarify the understanding of a problem, or when the researcher
is uncertain about which theory is relevant or can be applied to explain the nature of
phenomena.
Descriptive study: The objective of descriptive studies is “to portray an accurate
profile of persons, events or situations” (Robson, 1993). This may be an extension of
an exploratory research. It is necessary to have a clear picture of the characteristics of
which the data will be collected prior t...