Factors affecting the evaluation ofemployee based brand equity (third-generation of brand equity) in the banking industry (Case Study: Maskan Bank)

Authors

Abstract

Increasing number of banks and financial institutions in Iran reflects the need to have a sustainable competitive advantage in the banking industry. Such an advantage which is not simply imitated by others, makes the differentiation and more importantly reinforce intangible assets of organizations. Banks as one of the most important ramification of service organizations, should emphasize on how to deliver instead of what to deliver. The aim of this study is to investigate factors affecting on employee brand commitment and its impacts on employee based brand equity in Maskan Bank. The population of study was selected through Convenience sampling method, including 233 front office of Maskan Bank in Tehran. To test the hypotheses, structural equation model through Amos 22 were used. Findings reveal the relationship between employer brand and its competitors, employer brand as experienced by employees, customer brand as perceived by employees, employees’ brand knowledge and Employee brand commitment. Also the relationship between employee brand commitment and employee-based brand equity was supported. Finally some managerial practical implications are presented in the context of banking industry.

Keywords


کریمی علویجه, م., اسحاقی, س., & احمدی, م. م. (2016). عوامل مؤثر بر رفتار شهروندی برند کارکنان در بیمه. مطالعات مدیریت بهبود و تحول, 25(80), 119-142. doi:10.22054/jmsd.2016.4032.
Ahmed, P. K., Rafiq, M., & Saad, N. M. (2003). Internal marketing and the mediating role of organisational competencies. European Journal of Marketing, 37(9), 1221-1241.‏
Ambler, T., & Barrow, S. (1996). The employer brand. Journal of brand management4(3), 185-206.‏
Anselmsson, J., Johansson, U., & Persson, N. (2007). Understanding price premium for grocery products: a conceptual model of customer-based brand equity. Journal of Product & Brand Management16(6), 401-414.‏
Atilgan, E., Aksoy, S., & Akinci, S. (2005). Determinants of the brand equity: A verification approach in the beverage industry in Turkey. Marketing intelligence & planning23(3), 237-248.‏
Babin, B. J., & Boles, J. S. (1996). The effects of perceived co-worker involvement and supervisor support on service provider role stress, performance and job satisfaction. Journal of retailing72(1), 57-75.
Bagozzi, R. P., & Yi, Y. (1988). On the evaluation of structural equation models. Journal of the academy of marketing science, 16(1), 74-94.
Balmer, J. M. (2001). The three virtues and seven deadly sins of corporate brand management. Journal of General Management27(1), 1-17.‏
Bansal, H. S., & Voyer, P. A. (2000). Word-of-mouth processes within a services purchase decision context. Journal of service research3(2), 166-177.‏
Barrow, S., & Mosley, R. (2011). The employer brand: Bringing the best of brand management to people at work. John Wiley & Sons.‏
Berry, L. L., & Seltman, K. D. (2007). Building a strong services brand: Lessons from Mayo Clinic. Business Horizons50(3), 199-209.‏
Bloemer, J., & Odekerken-Schröder, G. (2006). The role of employee relationship proneness in creating employee loyalty. International Journal of Bank Marketing24(4), 252-264.‏
Bromley, D. B. (2001). Relationships between personal and corporate reputation. European journal of marketing35(3/4), 316-334.‏
Brown, J. J., & Reingen, P. H. (1987). Social ties and word-of-mouth referral behavior. Journal of Consumer research, 350-362.‏
Burmann, C., & Zeplin, S. (2005). Building brand commitment: A behavioural approach to internal brand management. The Journal of Brand Management, 12(4), 279-300.‏
Chang, A., Chiang, H. H., & Han, T. S. (2012). A multilevel investigation of relationships among brand-centered HRM, brand psychological ownership, brand citizenship behaviors, and customer satisfaction. European Journal of Marketing46(5), 626-662.‏
Chatterjee, P. (2001), “Online reviews: do consumers use them?” Advances in Consumer Research, Vol. 28 No. 1, pp. 129-133.
Chye Koh, H., & Boo, E. F. H. (2004). Organisational ethics and employee satisfaction and commitment. Management Decision42(5), 677-693.‏
De Chernatony, L., & Cottam, S. (2006). Internal brand factors driving successful financial services brands. European Journal of Marketing40(5/6), 611-633.‏
De Chernatony, L., Drury, S., & Segal-Horn, S. (2003). Building a services brand: stages, people and orientations. Service Industries Journal23(3), 1-21.‏
Dutton, J. E., & Dukerich, J. M. (1991). Keeping an eye on the mirror: Image and identity in organizational adaptation. Academy of management journal, 34(3), 517-554.‏
Dutton, J. E., Dukerich, J. M., & Harquail, C. V. (1994). Organizational images and member identification. Administrative science quarterly, 239-263.‏
Fornell, C., & Larcker, D. F. (1981). Structural equation models with unobservable variables and measurement error: Algebra and statistics. Journal of marketing research, 382-388.
Garlick, R. (2004). Stand by your brand: Promoting strong image attracts and retains employees and customers. Nation’s Restaurant News38(16), 20-21.‏
Good, L. K., Page, T. J., & Young, C. E. (1996). Assessing hierarchical differences in job-related attitudes and turnover among retail managers. Journal of the Academy of Marketing Science24(2), 148-156.‏
Gummesson, E. (1987). The new marketing—developing long-term interactive relationships. Long range planning20(4), 10-20.‏
Hair, J., Black, W., Babin, B., & Anderson, R. (2009). Multivariate data analysis (7th ed.). Prentice Hall.
Harris, F., & de Chernatony, L. (2001). Corporate branding and corporate brand performance. European Journal of marketing35(3/4), 441-456.‏
Hartline, M. D., & Ferrell, O. C. (1996). The management of customer-contact service employees: an empirical investigation. The Journal of Marketing, 52-70.‏
Heskett, James L., and L. A. Schlesinger. "Putting the service-profit chain to work." Harvard business review 72.2 (1994): 164-174.‏
Jiang, T., & Iles, P. (2011). Employer-brand equity, organizational attractiveness and talent management in the Zhejiang private sector, China.Journal of Technology Management in China6(1), 97-110.
Jin, X., Weber, K., & Bauer, T. (2012). Dimensions and perceptional differences of exhibition destination attractiveness: The case of China. Journal of Hospitality & Tourism Research, 1096348012436382.
Kahn, W. A. (1990). Psychological conditions of personal engagement and disengagement at work. Academy of management journal33(4), 692-724.‏
Keller, K. L. (2001). Building customer-based brand equity: A blueprint for creating strong brands.‏
Kim, H. B., Gon Kim, W., & An, J. A. (2003). The effect of consumer-based brand equity on firms' financial performance. Journal of consumer marketing, 20(4), 335-351.‏
Kimpakorn, N., & Tocquer, G. (2005). Employer brand equity: Employee contribution to service brand equity. In SERVSIG Research Conference, 2nd–4th June.‏
Kimpakorn, N., & Tocquer, G. (2009). Employees' commitment to brands in the service sector: Luxury hotel chains in Thailand. Journal of Brand Management, 16(8), 532-544.‏
Kimpakorn, N., & Tocquer, G. (2010). Service brand equity and employee brand commitment. Journal of Services Marketing24(5), 378-388.‏
King, C., & Grace, D. (2005). Exploring the role of employees in the delivery of the brand: a case study approach. Qualitative Market Research: An International Journal8(3), 277-295.
King, C., & Grace, D. (2008). Internal branding: Exploring the employee's perspective. Journal of Brand Management15(5), 358-372.
King, C., & Grace, D. (2009). Employee based brand equity: A third perspective. Services Marketing Quarterly30(2), 122-147.‏
King, C., & Grace, D. (2010). Building and measuring employee-based brand equity. European Journal of Marketing44(7/8), 938-971.‏
Lassar, W., Mittal, B., & Sharma, A. (1995). Measuring customer-based brand equity. Journal of consumer marketing12(4), 11-19.‏
Leone, R. P., Rao, V. R., Keller, K. L., Luo, A. M., McAlister, L., & Srivastava, R. (2006). Linking brand equity to customer equity. Journal of service research, 9(2), 125-138.‏
Lievens, F., & Highhouse, S. (2003). The relation of instrumental and symbolic attributes to a company's attractiveness as an employer. Personnel Psychology56(1), 75-102.‏
Morgan, R. M., & Hunt, S. D. (1994). The commitment-trust theory of relationship marketing. The journal of marketing, 20-38.‏
Mosley, R. W. (2007). Customer experience, organisational culture and the employer brand. Journal of Brand Management15(2), 123-134.‏
Netemeyer, R. G., Boles, J. S., McKee, D. O., & McMurrian, R. (1997). An investigation into the antecedents of organizational citizenship behaviors in a personal selling context. The Journal of Marketing, 85-98.‏
Papasolomou, I., & Vrontis, D. (2006). Building corporate branding through internal marketing: the case of the UK retail bank industry. Journal of product & brand management15(1), 37-47.‏
Pine, B. J., & Gilmore, J. H. (1998). Welcome to the experience economy.Harvard business review76, 97-105.‏
Ravens, C. (2013). Internal Brand Management in an International Context (Vol. 47). Springer Science & Business Media.‏
Roodt, G., Rieger, H. S., & Sempane, M. E. (2002). Job satisfaction in relation to organisational culture. SA Journal of industrial Psychology28(2), 23-30.
Sarmento, M., Simões, C., & Farhangmehr, M. (2015). Applying a relationship marketing perspective to B2B trade fairs: The role of socialization episodes. Industrial marketing management, 44, 131-141.
Sartain, L., & Schumann, M. (2008). Brand from the inside: Eight essentials to emotionally connect your employees to your business. John Wiley & Sons.‏
Sen, S., & Lerman, D. (2007). Why are you telling me this? An examination into negative consumer reviews on the web. Journal of interactive marketing, 21(4), 76-94.‏
Shaari, H., Salleh, S. M., & Hussin, Z. (2012). Relationship between brand knowledge and brand rewards, and employee brand citizenship behavior: The mediating roles of brand commitment. International Journal of Business and Society13(3), 335-354.‏
Shamma, H. M., & Hassan, S. S. (2011). Integrating product and corporate brand equity into total brand equity measurement. International journal of marketing studies3(1), p11.
Simon, C. J., & Sullivan, M. W. (1993). The measurement and determinants of brand equity: a financial approach. Marketing science12(1), 28-52.‏
Supornpraditchai, T., Miller, K. E., Lings, I. N., & Jonmundsson, B. (2007, December). Employee-based brand equity: antecedents and consequences. InAMZMAC, Conference Proceedings, University of Otago, Dunedin, New Zealand (pp. 3-5).‏
Tavassoli, N. T., Sorescu, A., & Chandy, R. (2014). Employee-based brand equity: Why firms with strong brands pay their executives less. Journal of Marketing Research51(6), 676-690.‏
Thomson, K., de Chernatony, L., Arganbright, L., & Khan, S. (1999). The buy-in benchmark: How staff understanding and commitment impact brand and business performance. Journal of Marketing Management15(8), 819-835.‏
Underwood, R., Bond, E., & Baer, R. (2001). Building service brands via social identity: Lessons from the sports marketplace. Journal of Marketing Theory and Practice, 1-13.‏
Vargo, S. L., & Lusch, R. F. (2004). Evolving to a new dominant logic for marketing. Journal of marketing68(1), 1-17.‏
Verma, J. P. (2013). Data analysis in management with SPSS software. Springer Science & Business Media.
Washburn, J. H., & Plank, R. E. (2002). Measuring brand equity: An evaluation of a consumer-based brand equity scale. Journal of Marketing Theory and Practice, 46-62.
Wilden, R., Gudergan, S., & Lings, I. (2010). Employer branding: strategic implications for staff recruitment. Journal of Marketing Management26(1-2), 56-73.‏
Zeithaml, V. A., Berry, L. L., & Parasuraman, A. (1993). The nature and determinants of customer expectations of service. Journal of the academy of Marketing Science21(1), 1-12.