Analysis of Brand Equity and Resonance of Private Banking Services in India

This study attempts to validate the determinants of brand equity of services based on consumers' perception of a private banking service. The theoretical framework of this study is based on customer-based brand equity called the Brand Resonance model, which comprises six brand equity constructs, namely, brand performance, brand judgment, brand resonance, brand imagery, brand salience and brand feelings. Factor analyses were performed on all items measuring the six constructs and the results produced only five factors i.e. brand resonance, brand performance,, brand feelings, brand judgments and brand salience, as the determinants of brand equity of services. For testing the reliability, alpha test on all these factors was produced. Further, correlation analysis was performed on the study variables and the results indicate that there are strong, positive and significant relationships between brand performance and brand judgment, and between brand performance and brand feelings. From the findings it was identified that there is a significant relationship between brand performance and brand resonance, between brand judgment and brand resonance as well as between brand feelings and brand resonance. The multiple regression results mention that only Brand Feelings, Brand Judgments and Brand Performance have a significant influence on Brand Resonance.