Marketing Mix Influence on Service Brand Equity and Its Dimensions

Abstract

Service sector is growing across the globe including India. Despite the growing importance of the sector and services marketing, there is a paucity of literature in the area in general and branding literature in particular. This study is carried out in the retail banking sector with loans as the product category. Retail banking sector is increasingly seen as an attractive market segment with opportunities for growth and profits. We have reviewed the service branding literature and it is observed that most of the available brand equity models are for goods. Based on the research gap, a service branding model has been proposed and empirically validated. The model represents service marketing mix influence on certain selected dimensions of brand equity, namely, brand image(s) and perceived service quality and thereby on brand equity. Structural equation modelling is used to test the hierarchical relationship. The study has established significant relationships among the marketing mix elements and brand equity dimensions. It contributes significantly to the literature on service branding and provides valuable insights to practicing managers.

Small business marketing strategies for physical therapy practice owners

“…Successful small business owners in the service industry respect the power of WOM marketing. WOM marketing is the most current and important channel of communication with consumers (Batra & Keller, 2016;Boyer et al, 2015;Cheung & Thadani, 2012;Hennig-Thurau et al, 2015;King et al, 2014;Mukherjee & Shivani, 2016). In the past, traditional marketing centered on mass media, including hardcopy ads and TV commercials consumers later retrieved from memory (Batra & Keller, 2016).…”

“…The 5 Ps are an adaptation of the 4Ps model that is well-established in business theory. 5Ps are product, price, placement, promotion, and people (Mukherjee & Shivani, 2016;Tălpău, 2014). The product is the actual good or service that the company sells.…”

Importance Of Corporate Social Responsibility In Strengthening Brand Equity

“…Although CSR has been considered to be an important strategy in the success of businesses, there are only limited researches which tested its role in affecting brand equity, mainly, in Asian service contexts. Jung and Yoon (2012) reported that most of the past studies on CSR were centred at manufacturing sectors, and few contributions were made in service industry settings (Mukherjee & Shivani, 2016). Additionally, Torres et al (2012) stated that there are few empirical researches which examined CSR and brand equity for international organizations.…”

Explore the Buffering Effects of Perceived Hidden Inflation on Survival of Mobile Phone Service Providers in Taiwan

“…Previous studies have proposed perceived quality as an important antecedent of customer-based factors, including customer satisfaction, brand equity, customer trust and customer loyalty [1,[26][27][28][29]. Quality in services has received little discussion, even though quality in the products field has prevalently contributed [26].…”

“…Based on studies by Parasuraman et al [29], not only is service quality defined as a global judgment or attitude related to the superiority of the service, but it is also composed of five dimensions, including tangibility, reliability, responsiveness, assurance and empathy. Many studies in different industries indicate that better service quality has a positive impact on customer trust and brand loyalty [28,[31][32][33][34].…”