The effects of consumer brand identification on loyalty: a study on South African banks
Date
2019
Authors
Monareng, Katlego
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Abstract
Consumer brand identification is a concept that helps us to understand the reasons behind brands helping consumers to express their identities and find the true meaning of themselves through brands. Brands are used by consumers to construct their self-image and to fulfil self-verification needs. This study sought to test the six drivers of Consumer Brand Identification, (CBI) as identified by Stokburger-Sauer, Ratneshwar and Sen (2012) and their impact on brand loyalty. The six drivers/antecedent are; brand-self similarity, brand distinctiveness, brand prestige, brand social benefits, brand warmth and memorable brand experiences. These drivers were tested on the five South African commercial banks, namely, Standard bank, First National Bank (FNB), Amalgamated Banks of South Africa (ABSA), Capitec and Nedbank.
A quantitative cross-sectional research design was used. A non-probability sampling method was employed with 244 respondents dispersed throughout South Africa who completed a self-administered questionnaire.
The results confirmed the influence of four of the six drivers, being brand distinctiveness, brand prestige, brand social benefits and memorable brand experiences. Further to that, it was found that brand distinctiveness has a stronger causal relationship with CBI when consumers have lower involvement in the brand’s product category. Brand social benefits had a stronger relationship with CBI when consumers have a higher involvement in the brand’s product category. CBI was found to have a positive consequence on brand loyalty which further lead to brand advocacy. The findings also revealed that FNB was the most popular bank, with ABSA being the least popular bank.
From the findings, it was recommended that banks should focus on driving an emotional connection with the brand and the consumer which can be through socially lead events that make them feel like they belong and taking consumers through memorable brand experiences. Through this, brand distinctiveness can be further enhanced.
Description
A research report submitted to the Faculty of Commerce, Law and Management, University of the Witwatersrand, in partial fulfilment of the requirements for the degree of Master of Management in Strategic Marketing, Johannesburg 2019
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Citation
Monareng, Katlego Beverly, (2019) The effects of consumer brand identification on loyalty :a study on South African banks, University of the Witwatersrand, https://hdl.handle.net/10539/28716