Determinants of Brand Equity of Services: A Verification Approach in the Banking Industry in Malaysia

Abstract

This study attempts to verify the determinants of brand equity of services based on consumers’ perception of a banking service.  The conceptual framework of this study is based on customer-based brand equity  called the Brand Resonance model which comprises of six building blocks namely brand salience, brand performance, brand imagery, brand judgment, brand feelings and brand resonance.  Factor analyses were conducted on all items measuring the  six constructs and the results produced only five factors i.e brand salience, brand performance, brand judgments, brand feelings and brand resonance as the determinants of brand equity of services.  Reliability test on all these factors produced satisfactory reliability coefficients. Correlation analysis was also conducted on the study variables  and the results indicate that there are strong, positive and significant relationships between brand performance and brand judgment, and between brand performance and brand feelings.  Strong, positive  and significant relationships are also found  between brand performance and brand resonance,  between brand judgment and brand resonance as well as  between brand feelings and brand resonance.  Keywords: brand equity of services, consumers’ perception of a banking service, brand salience, brand  performance, brand imagery, brand judgment, brand feelings and brand resonance