Analysis of the multidimensionality of brand equity for the banking sector: a study on generation Z

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Published: Apr 9, 2024
Updated: 2024-04-09
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2024-04-09 (3)
DOI: https://doi.org/10.17163/ret.n27.2024.01
Keywords:
Brand equity, Banking industry, Marketing strategy, Branding, Generation Z, factor analysis, management, innovation management

Main Article Content

Campo Elías López-Rodríguez
https://orcid.org/0000-0003-4061-2979
Johanna Katherine Sotelo-Muñoz
https://orcid.org/0009-0006-0605-7499
Ingrid Janeth Muñoz-Venegas
https://orcid.org/0009-0007-6435-3920
Nicolás Fabián López-Aguas
https://orcid.org/0009-0005-0831-4279

Abstract

in the competitive scenario of the banking sector, marketing and branding activities have become a crucial element for the long-termsuccess of financial institutions. From the perspective of brand equity management, trust and loyalty are essential, not only in the operationalprocesses with users, but also in the consolidation of the brand as a strategic asset. The aim of this research was to analyse the multidimensionalityof brand equity for the banking sector from the perspective of Generation Z. A quantitative, analytical, and cross-sectional study was carried out,using exploratory and confirmatory factor analysis based on an instrument applied online to people belonging to this generational segment. Thefindings infer that brand equity in the banking sector aimed at Generation Z is made up of the following dimensions: brand loyalty and importance(BLI), perceived quality (PQ), brand association (BA), brand performance (BP) and brand awareness (BA). It is concluded that the bankingsector must continue to consolidate its brand equity as a strategic activity based on these dimensions, strengthening its brand positioning, marketshare and market orientation, ensuring an understanding of the needs, desires, and behaviours of Generation Z.

Article Details

Issue
Vol. 14 No. 27 (2024): (April-September)
Section
Monographic section
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