Brand Identity, Regulatory Policy and Firm Effectiveness: Empirical Evidence from Quoted Commercial Banks in Nigeria

Abstract

Much thought and research are increasingly directed at the study of brand identity because of its effects on banks performance. No much reliable statistics exist on the value of brand identity and effectiveness of banks in Nigeria. Thus, the purpose of the study is to examine the extent of relationship between brand identity and firms’ success of quoted commercial banks in Nigeria. This study develops and refines parsimonious measures of brand identity specifically for the banking context. The authors conduct series of multi method studies of banks stakeholders to validate the role of brand identity in financial organizations. The results yield three dimension of brand identity for banks; product design, brand image and company logo. Thus, current and potential customers ascribe identity to banks and differentiate between banks on the basis of the banks identity. Finally, commercial banks brand identity may influence potential customer’s likelihood to purchase from the identified banks.

Keywords: Brand Identity, Bank Performance, Brand Image, Company Logo, Regulatory Policy