BRAND VALUE AND MARKETING WELLNESS OF DEPOSIT MONEY BANKS
Abstract
A cardinal objective of marketing is to create value for customers and to capture value from customers in return; and building strong brands facilitate the achievement of this objective. Strong brands win customers’ preference through the assurance of value. The focus of this study is to examine the association between brand value and marketing wellness measured in terms of new product success, sales growth and market share. The study utilised data collected from sixty-six (66) respondents comprising of branch managers, marketing managers and inside sales officers of deposit money banks using a structured questionnaire. The P(r) was employed as the test statistic. All the statistical analyses were performed using the SPSS version 20.0. The study found positive and statistically significant correlation between brand value and all the three indices of marketing wellness considered in the study, with marketing share showing the strongest link with brand value. The study thus concludes that brand value influences marketing wellness and recommends that banks that seek marketing wellness measured in terms of market share, new product success and sales growth should build strong brands that consumers will hold in high repute and that also assure value for consumers.
JEL: M31, M20
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DOI: http://dx.doi.org/10.46827/ejmms.v0i0.155
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