A survey on important factors influencing brand equity: A case study of banking industry

Abstract

One of the most important issues in increasing customers' needs is to increase the quality of services through providing better quality services. Customer satisfaction is one of the primary requirements to meet people's needs and to have an efficient customer relationship management (CRM) we need to detect the most important factors influencing efficiency and effectiveness in banking industry. In this paper, we present an empirical study to detect these factors in one of private banks in Iran. The proposed study of this paper tries to reach three objectives. We first detect important factors, which build customers' perception towards CRM, then we detect all influencing factors, which impact CRM, and finally, we evaluate the impact of CRM towards brand equity. The proposed study first designs a questionnaire and distributes it among 386 customers. Using structural equation modeling and certified factor analysis, we analyze the results. The results indicate that three factors including information, employee job behavior and suggestions and other factor have meaningful impact on customer brand equity. However, the impact of equipment on customer brand equity was not meaningful.