The Effect of Brand Equity upon Customers’ Service Choices: The Case of Dashen Bank S.C in Addis Ababa
No Thumbnail Available
Date
2015-05
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Addis Ababa University
Abstract
Dashen Bank plays a significant role in the economy, making up one of the bigfinancial servicesprovider in Ethiopian economy. Hence, providing better quality is vital as banks have to compete for customers. The purpose of this study was to examine the effect of brand equity upon customers’ service choices. A sample of 400 respondents in 20 Addis Ababa Area Dashen Banks was drawn using a stratified sampling approach, and 360 completely filled questionnaires were used in performing final analysis Using a 5-point Likert scale. Findings support that all six brand equity dimensions were influencing customers’ service choice of DB.Brand judgments is found to be the strongest relationship with customers service choice (β=0.287, p<0.05), followed by Brand resonance (β=0.237, p<0.05), brand image (β=0.160, p<0.05). However, brand performance is found to be positive but insignificant relationship with customers service choice (β=0.110, p>0.05), brand awareness (β=0.042, p>0.05) and brand feeling (β=0.021, p>0.05). From these, the Bank needs to prioritize its focus as per the given sequence. Correlation analysis result also shows, overall customers’ service choice is found to be significantly and positively correlated with Overall brand equity, followed by brand judgments, brand resonance, brand performance, brand imagery, brand feeling and brand awareness. The findings also indicates that the brand equity values in DB is high (above the average) and because of this reason the bank customers are satisfied with the services provided by DB and rated its service excellence as good. It can be conclude that Dashen Bank has to do more on attributes associated with brand awareness, brand performance, brand imagery, brand judgments, brand feeling, and brand resonance in order to bring higher influence upon customer services choice and enhance brand equity values.Future researchers can conduct using analytical method of research with large sample size that could come up with similar or different findings on the effect of brand equity upon customers’ service choices
Description
Keywords
Brand equity, Customer choice, Dashen bank