Measurement of brand equity and a survey in the banking sector

Abstract

This study explores how consumers evaluate brand names of a selected group of banks using the consumer?? based brand equity measurement. We conceptualise brand equity as a four dimensional construct comprising consumer awareness, brand image, perceived product/service attributes and customer relationship and communication characteristics. The perceptions of customers about social responsibility activities of banks have also been included. The findings indicate that brand image characteristics have been found to be more important than product/service attributes for the selected sample of banks. Brand image characteristics such as prestige and a good reputation is likely to be most influential in building brand equity followed by product/service quality which has been ranked second by respondants.