IMPACT OF SOCIO DEMOGRAPHIC VARIABLES ON BRAND EQUITY IN THE INDIAN BANKING INDUSTRY
Received: 19.09.2021; Revised: 28.10.2021, Accepted: 26.11.2021, Published Online: 31.12.2021
Assistant Professor, Punjabi University ,Patiala
Assistant Professor,GGN Khalsa College, Ludhiana
The banking industry is presently at the front of development of service sector and survival of Indian banks depends upon the challenges present in environment. The sustainability is a term mainly used by banks to meet the expectations of customers like service quality, staff quality and branding. Due to these challenges, presently banks are focusing on improving the brand equity by focusing on brand personality, perceived service quality, brand awareness and brand association. This paper studies the dimensions of brand equity of six banks chosen on the basis of global brand value based on the report of brand finance 500.The purpose of this study is to give insight and deeper understanding of how socio demographic variables like income, education and occupation of banking customers affect the brand equity. Data has been collected from 464 respondents of public and private banks and analyzed by ANOVA technique which shows the perception of the banking customers and its influence on the customer’s choice of the bank, bank loyalty and the quality of the bank.
Keywords: Brand Personality, Sustainability, Brand equity, Service quality, Indian banks