The Moderating Effect of Social Media on the Relationship between Value Co-creation and Brand Equity in the Services Sector (Banking) Context (original) (raw)
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Social media is the integration of media and social communication; it is a collection of online tools that facilitate interaction and communications between users. In light of the growing interest in the use of social media marketing among a lot of companies especially the mobile service providers and the transformation of social media to an effective to all for building the relationship with consumers many companies have utilized social media marketing as a new channel to reach their consumers. The studies showed that social media marketing that companies use as a tool for their marketing activities is centralized about six dimensions: Online Communities, Interaction, Sharing of Content, Accessibility, and credibility. Another important research topic is brand equity. It is viewed as the basis for a new strategic framework from which to build more powerful, customer-centered marketing programs that are financially accountable and measurable; many researches agreed that brand. Because of the importance of these two topics to the Jordanian mobile service providers this study set out to examine the relationships between the social media marketing dimensions on the brand equity, the active user of the Jordanian mobile service providers social networks were the population of the study. A sample of the study totaled 450 customers, the researcher tested the hypothesis using simple regression and stepwise regression tests: the results showed that there is a statistically significant impact of the dimensions of social media marketing on the brand equity for the Jordanian mobile service providers and after performing a stepwise regression the results showed that there are a significant impact between the Accessibility, and Credibility on the brand equity which means that the Accessibility and Credibility affects the brand equity. The researcher sees that the companies should focus more on their social media marketing strategies and increase its share in the general marketing strategy of the company.
Descriptive Dimensions of Brand Equity in Service Sector of Pakistan: A Literature Review
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In the industry of goods, the product is the primary brand. However, with services, the company is the primary brand. Branding is not for visible goods but also a significant factor of performance for services. The ability to educate consumers of their expertise and credence values before the order has contributed to the general awareness of the value of products in the service industry in relation to consumer preference. If the brand is an essential consideration in any campaign initiative, it is crucial to consider the meaning of its equity. Brand value is the confidence gained in a brand regardless of customer experience. Because of the strategic advantages of established and established products, brand value is significant. Brand equity can make a significant contribution to the visualization of intangible goods for service companies. Given that there is no research available, this study seeks to suggest descriptive brand equity dimensions in Pakistan's service markets. The ...
Building Consumer-Based Brand Equity in Retail Banks: A Quantitative Study On a Pakistani Star Bank
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Firms are striving to increase their brand equity that ultimately leads to an increase in profitability. The purpose of the study is to identify the causal relationship of endorser's credibility with Brand credibility and its meditating role on consumer-based brand equity in the banking sector of Pakistan. 384 active HBC account holders taken as the sample and data collected through a comprehensive questionnaire. Correlation and regression analysis were conducted to test the factors of attractiveness, expertise, trustworthiness, and popularity on Brand credibility and further its effect on Brand equity. The results suggest that in banking sector firm Expertise of endorser is the most significant factor followed by trustworthiness and popularity that influence brand credibility and attractiveness does not have any impact on brand credibility. The study provides an understanding of brand building strategy, and it also highlights a clear brand differentiation strategy for bank bran...
South Asian Journal of Management Sciences, 2019
The purpose of this study is to examine the impact of traditional media communication and social media communication in generating the consumer based brand equity. This study provides an important theoretical contribution by introducing prosumers and lead users as for user generated content in the conceptual model. The study has used conventional advertising for measuring traditional media communication whereas, firm and user generated content on social media were used to measure social media communication. The study has employed PLS-SEM to obtain the empirical results. The empirical findings suggested that traditional media communication and social media communication are equally important for creating brand equity. It was also concluded that firm created content has a stronger impact on brand awareness and functional brand image. As far as the user generated content is concerned, the study proposed that Prosumers have a stronger impact on functional brand image while lead users have a significant impact on hedonic brand image.
Conceptualization of social media brand equity
Pressacademia, 2020
Purpose-While brand equity is widely recognized as one of the most important areas of strategic marketing, it is a rather new and complex research topic in social media context. Hitherto, there is no acknowledged concept of social media brand equity or unified approach of its estimation. The purpose of this study is to suggest a conceptualization of social media brand equity (SMBE) through analysis of the main challenges and drivers of extant explorations in the related areas. Methodology-Out of 225 revised scholarly papers about social media and brand valuation, there are scant number of studies that propose a model for SMBE measurement. Based on the literature review a theoretical proposal is elaborated to understand the concept of SMBE. Findings-Results show that consumer-related factors have a significant impact on SMBE building due to the active involvement of users in the value co-creation process, which is facilitated by numerous social media inherent features. Therefore, customer-based brand equity (CBBE) may be the initial platform for elaboration of the SMBE concept and subsequent development of its measurement scale. Conclusion-Conceptualization of SMBE contributes to the development of the reasonable assessment model available for scholars and practitioners for the brand valuation of social media firms.
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In light of the recent decline in brand value for the top two Turkish telecommunication service providers, these companies are now focusing on innovation and embracing new strategic directions in their operations. Their aim is to pivot towards a customer-centric approach to enhance competitiveness. Therefore, the objective of this research is to investigate the role of corporate social responsibility dimensions, corporate reputation and service quality dimensions in building brand equity in the Turkish telecommunication industry. Additionally, it analyzes the mediating role of perceived value in the relationship between these variables and brand equity. The study has made a significant contribution to the field of building customer-based brand equity by constructing a new model to predict brand equity through these integrated factors. A stratified random sample method was used, and the random samples were taken through the customer service centers of companies (Turkcell 40.8%, Turk Telekom 27.6%, Vodafone 31.6%), and the questionnaire link was sent via email and/or WhatsApp. Over 513 collected questionnaires and the valid questionnaire was 395(77%), where 118(23%) were incomplete questionnaires and from only one mobile service provider, 207 useful responses were received from the male (52.4%) and 188 from the female (47.6%). The confirmed hypotheses showed that economic, ethical-legal, and philanthropic responsibilities positively influenced brand equity. Economic and ethical-legal responsibilities were also found to positively impact perceived value. Corporate reputation had a positive impact on both perceived value and brand equity. Additionally, service quality dimensions (tangible, responsiveness, empathy, and network quality) were positively related to brand equity. and also, the dimensions of service quality (tangible, reliability, responsiveness, empathy, and network quality) were positively related to perceived value. The relationships between Corporate Social Responsibility dimensions (economic, and ethical-legal responsibilities) and brand equity were found to be mediated by perceived value. The relationship between corporate reputation and brand equity was also mediated by perceived value. The relationships between service quality dimensions (tangible, reliability, responsiveness, empathy, network quality), and brand equity were found to be mediated by perceived value. The research offers valuable insights for brand managers and marketing heads to establish strong brand equity. One of the key findings is that companies should include Corporate Social Responsibility dimensions (Philanthropic, Economic and Ethical-Legal) in their branding strategy to increase brand equity and consumer perception of value. Improving consumer perception of value is crucial to maximizing the effect of Corporate Social Responsibility on brand equity. The study also highlights that a positive corporate reputation is essential in establishing and maintaining strong brand equity, and companies should consider consumer perception of value when managing their reputation. Specifically, the research provides useful insights for telecommunication companies in understanding the importance of perceived value in building brand equity through corporate reputation management. The study stresses the need for telecommunication companies to focus on improving service quality dimensions (network quality, responsiveness, tangibles, and empathy) to enhance consumer perception of value and thus improve brand equity. KEYWORDS: Corporate Social Responsibility, Corporate Reputation, Service Quality, Perceived Value, Brand Equity.
Brand Equity and Usage Intention Powered by Value Co-Creation: A Case of Instagram in Kazakhstan
Sustainability, 2022
Purpose: Unprecedented communication features of social media noticeably reinforce the active role of consumers in the value co-creation (VCC) of offline and online brands including social media. From the consumer perspective, this study examines a contribution of VCC behavior to consumer-based brand equity (CBBE) and consequent intention to use social media based on Instagram as the most popular platform in Kazakhstan. Methodology: A web-based survey provided data from 550 Instagram users in Almaty city. Empirical analysis includes testing statistical assumptions using SPSS 23, conducting confirmatory factor analysis (CFA), and structural equation modeling (SEM) using Warp PLS 7.0. Findings: With the result of this study investigation, the paper develops the model that explains the effect of VCC on continuous usage intention to use social media through CBBE comprising brand associations, brand loyalty and brand perceived quality. Originality: Even though the importance of social me...
Customer based brand equity:Evidence from the bank industry of Iran
2013
"Purpose- The paper aims to explore interrelations of the four brand equity components: brand awareness, brand loyalty, perceived quality and brand image in bank industry and improve the conceptualization of customer–based bank brand equity. Design/methodology/approach- The paper is based on the recommendations of previous studies, the scale constructed to measure consumer–based brand equity. The present study used a sample of 266 actual customers from 7 branch in north provinces saman bank of Iran was used to test the relations of the proposed model path analysis. Findings- the Findings in this paper support the four- dimensional model of Customer- based brand equity in bank industry of Iran Practical implications- The paper shows that bank managers should try to influence; perceived quality, brand loyalty, brand image and brand awareness in their organizations and design their service delivery process by considering relations between customer based brand equity components.
What type of client do you need? The brand value co-creation in the banking sector
Frontiers in Psychology, 2022
Service-dominant logic established that for the success of service industries, it is vital to acknowledge the customer as an active agent in the commercial ecosystem. To carry it out, the consumer must participate in value creation. The resource integration theory exposes the importance of recognizing the customer as an agent capable of improving the company's competitive advantage. It is only necessary for the participants to perceive benefits to make their resources available and integrate them into the co-creation process. This study aims to find the key customer-based factors that influence the brand value co-creation (VCC) process in the banking sector, analyzing the dynamics in different customers across national cultures and idiosyncrasies. In this paper, we analyze the potential heterogeneous idiosyncrasy of customers and how it leads to becoming more engaged in the co-creation process. Quantitative research was performed in five countries, obtaining a total of 2,029 valid questionnaires where latent profile analyses and ANOVAs were performed to identify and describe the latent profiles (LPA) of consumer cocreators of brand value. Afterward, a PLS-SEM was performed to test the research model in each segment. The results show four different profiles of customer co-creators of brand value, from non-co-creators (detractors), skeptical and neutral, to customers committed to co-creating brand value with their banks. The results indicate that detractor customers lack the motivations and resources to carry out co-creation behaviors. On the other hand, creativity and connectedness were crucial for customers cocreators of value. To the authors' understanding, no studies have used latent segmentation to find the profiles of customer co-creators of brand value. KEYWORDS latent profile analysis (LPA), customer profiles, cross-cultural study, idiosyncrasy, brand value, co-creation, unobserved heterogeneity Frontiers in Psychology 01 frontiersin.org Peña-García et al.