Sustainability of Commercial Banks: Role of Brand Image over Brand Equity

Abstract

Sustainability has become a major concern for any business. A large number of studies have linked a positive relationship between sustainability and brand equity.  We have used seven factors model viz.; perceived quality, brand awareness, brand association, brand image, brand name, brand loyalty and overall brand equity to measure brand equity. Since, Brand Image and Brand Loyalty have loaded in Factor analysis of the study; we aimed at exploring the influence of brand image over brand equity of Islami Bank Bangladesh Limited (IBBL). Both Exploratory Factor Analysis (EFA) and Confirmatory Factor Analysis (CFA) were run to investigate the causal relationship and model fit analysis of the model respectively.  Primary data was collected from 330 respondents after interviewing with structured questionnaire within Dhaka city. Interview period was December 2012. SEM resulted in four factors loading; where brand image and brand loyalty were found to have strong influence over brand equity. CFA signified the model fit and explained strongest influence of brand image.

Keywords: Brand equity, Brand image, Factor Analysis