Customer-based brand equity and customer behavioral intention: Evidence from insurance service
Revista Brasileira de Marketing
Universidade Nove de Julho
School of Business and Law
Objectives: Brands as effective tools and the most valuable intangible assets of companies are widely applied to change customer behavioral intentions. Creating brands with high positions in customers' minds which can offer great value to them and affect their decision-making processes and purchase intentions is companies' priority. This study examines the effects of customer-based brand equity and its dimensions comprising brand awareness, brand association, perceived quality, and brand loyalty (Aaker's model) on customer repurchase intention through customer perceived value in the light of signalling theory. Method: These relationships are investigated on a sample of Iranian life insureds (267 customers) in the insurance context. Research data are gathered by questionnaire with reliability coefficient equal to 0.95. The validity is investigated through exploratory factor analysis (EFA) and confirmatory factor analysis (CFA). To test the hypotheses, correlation analysis and structural equations model (path analysis) are used. Results: The results show that brand awareness and brand association do not impact customer perceived value and customer repurchase intention. Brand loyalty is the only dimension that affects customer repurchase intention directly. Customer perceived value mediates the effects of perceived quality and brand loyalty on customer repurchase intention. Moreover, customer-based brand equity directly and indirectly via customer perceived value influences customer repurchase intention. Theoretical contributions: This research examines the relationships between customer-based brand equity and its dimensions including brand awareness, brand association, perceived quality, and brand loyalty based on Aaker's model and customer repurchase intention through customer perceived value in the light of signalling theory. These relationships have not been investigated in insurance context in Iran to date. Relevance/Originality: The investigation of mentioned relationship based on signalling theory in insurance context in Iran. Implications for management: The current study provides a pattern and a wide range of suggestions for insurance companies to enhance their customer-based brand equity and its aspects in order to persuade customers to purchase their brands again in a competitive insurance industry.
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Bakhshizadeh, E., & Aliasghari, H. (2023). Customer-based brand equity and customer behavioral intention: Evidence from insurance service. Brazilian Journal of Marketing, 22(1), 439-468. https://doi.org/10.5585/REMARK.V22I1.20256