The Impact of Customer Value Co-Creation on Brand Equity within the Banking Industry of Lahore (Pakistan): Social Media as Moderator Relationship, Impact between Brand equity and Value Co-Creation

EJAZ, AHMED (2024) The Impact of Customer Value Co-Creation on Brand Equity within the Banking Industry of Lahore (Pakistan): Social Media as Moderator Relationship, Impact between Brand equity and Value Co-Creation. PhD thesis, Faculty of economic and Business.

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Abstract

The importance of brand equity in branding and marketing has led researchers and industry specialists to investigate its model and evaluation. There is a lack of studies on the brand equity of service and banking industries in emerging economies. It is atypical for banks to be devoid of branding study. Evaluating a service prior to purchasing or using it can be challenging, and it sometimes requires a significant amount of effort to authenticate the claims made by the company. One may also resort to leveraging social media platforms to gather feedback from family, friends, and groups regarding specific products or services. Many brand equity studies conducted in affluent nations have yielded positive results, indicating the need for a concentrated effort on emerging countries in the same region. Brand equity data is limited in the service industry, particularly in the banking sector, especially in emerging countries such as Pakistan. This study employs Aaker's model dimensions to evaluate the brand equity of banks in Pakistan. A total of 426 banking users from Lahore were surveyed in person to gather data based on non-probability by following purposive technique. Lahore is the capital of Punjab, the second-largest city in terms of population, and also houses the second largest stock market. PLS-SEM was employed to assess the adequacy of the model by examining both the measurement model and structural equation modeling. The study demonstrates that customer participation behaviour (CPB) and citizenship behaviour (CCB) enhance brand equity. Social media serves as a mediator and enhances the value of a brand. Social media platforms also have a favourable impact on the relationship between customer participation behaviour (CPB) and brand equity (BE), ultimately strengthening brand equity. Nevertheless, it does not enhance the links between CCB and BE. The primary cause is the proliferation of counterfeit, inaccurate, and manipulated material and comments on websites, blogs, and comment sections. It is imperative for all banks to provide utmost importance to internal branding, services, security, and privacy, as well as external consumers. This is for the reason that the service encounter is a critical moment that determines the value of the brand. Stakeholder encouragement should be given priority by top management, as it directly represents the brand values through customer service. The majority of Pakistani banks provide internet banking services, although the survey participants refrain from using it due to a lack of trust. Therefore, it is imperative for the majority of Pakistani banks to collaborate with the State Bank of Pakistan (SBP) in order to establish and enhance the trustworthiness of internet banking. Enhancements in service, client satisfaction, and brand equity are observed. Keywords: Banking sector, Brand equity, Emerging markets, Service brand equity, Service sector

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