An Empirical Investigation to Analyze the Brand Equity and Resonance of Banking Services: Evidence from India

This study attempts to verify the determinants of brand equityof services based on consumers’ perception of a banking service.The present study is based on customer-based brand equity calledthe Brand Resonance model suggested by Keller (2001), whichcomprises six brand equity constructs, such as: brand resonance;brand judgements; brand feelings; brand performance; brand imagery;brand salience. Exploratory factor analysis was performedto reduce the total number of items to a small number of underlyingfactors, and the results produced six factors, namely: brandresonance; brand judgements; brand feelings; brand performance;brand imagery; brand salience. These alpha coefficients ofthe reliability test were found to be ranging from 0.781 to 0.912for all of the brand equity constructs individually, and for the entirescale the value of alpha was found to be 0.837. Correlationanalysis was performed to find out relationships among variouscomponents of brand equity. From the findings of multiple regressionanalysis it is evident that brand performance emergedas the most important determinant of brand resonance, followedby brand feelings (0.427) and brand judgements (0.306).