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Impact of brand familiarity on brands experience dimensions for financial services brands

Impact of brand familiarity on brands experience dimensions for financial services brands PurposeThe purpose of this paper is to explore the impact of brand familiarity on the various dimensions of brand experience, and to identify the factor structure of brand familiarity for financial services brands.Design/methodology/approachThis study used a convenience sampling technique by contacting 216 respondents, and examined the relationship between brand experience dimensions and brand familiarity. An independent sample t-test was performed to assess the differences for brand experience dimensions. Exploratory and confirmatory factor analyses were performed for both low familiarity and high familiarity service brands to highlight the differences.FindingsThe improvement in brand familiarity is positive for sensory, emotional, behavioral and relational brand experiences for high familiarity service brands. Exploratory factor analysis and confirmatory factor analysis found a four-factor brand experience model for low brand familiarity and a five-factor brand experience structure for high familiarity financial services brands. The study of financial services brands validates the service brand experience framework of Nysveen et al. (2013) for high familiarity brands, but not for low familiarity financial services brand.Practical implicationsThere is a need for marketers to comprehend various dimensions of brand experience in the context of financial services brands which are experiencing increased competition with non-banks.Originality/valueThe study makes a contribution to the existing literature as the concept of brand familiarity and its relationship with brand experience have received scant attention in the past. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Bank Marketing Emerald Publishing

Impact of brand familiarity on brands experience dimensions for financial services brands

International Journal of Bank Marketing , Volume 35 (4): 12 – Jun 5, 2017

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References (60)

Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
0265-2323
DOI
10.1108/IJBM-05-2016-0066
Publisher site
See Article on Publisher Site

Abstract

PurposeThe purpose of this paper is to explore the impact of brand familiarity on the various dimensions of brand experience, and to identify the factor structure of brand familiarity for financial services brands.Design/methodology/approachThis study used a convenience sampling technique by contacting 216 respondents, and examined the relationship between brand experience dimensions and brand familiarity. An independent sample t-test was performed to assess the differences for brand experience dimensions. Exploratory and confirmatory factor analyses were performed for both low familiarity and high familiarity service brands to highlight the differences.FindingsThe improvement in brand familiarity is positive for sensory, emotional, behavioral and relational brand experiences for high familiarity service brands. Exploratory factor analysis and confirmatory factor analysis found a four-factor brand experience model for low brand familiarity and a five-factor brand experience structure for high familiarity financial services brands. The study of financial services brands validates the service brand experience framework of Nysveen et al. (2013) for high familiarity brands, but not for low familiarity financial services brand.Practical implicationsThere is a need for marketers to comprehend various dimensions of brand experience in the context of financial services brands which are experiencing increased competition with non-banks.Originality/valueThe study makes a contribution to the existing literature as the concept of brand familiarity and its relationship with brand experience have received scant attention in the past.

Journal

International Journal of Bank MarketingEmerald Publishing

Published: Jun 5, 2017

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