AI Summary & Key Takeaways
AI InsightThe concept of brand love can create a competitive advantage for banks as one of these tools.
📌 3 Key Takeaways
Abstract
The aim of this study in this direction is to determine the possible effects of the variables such as experience period, consumer trust, costumer satisfaction and brand novelty in the banking sector, in which there is an intense competition, on brand love. The study was conducted by questionnaire on the customers of two different banks which were reached by convenience sampling method. Research findings show that satisfaction, trust and brand innovation variables are a positive influence on brand love. On the other hand, there was no significant effect of experience period on brand love. For a high level brand love, it is expected that the brand constantly renews itself and the customer is satisfied and that the brand is reliable in the eyes of the consumers. When brands can achieve them, they can increase the desire of the customer to repurchase, recommend the brand to others, and pay more for the brand. It can be considered as that creating brand love is more difficult in sectors where competition is intense as many companies are trying to convince the same target audience. One of these sectors, where there is intense competition in Turkey, is the banking sector. Banks in this sector use a variety of tools or devices to attract consumers from their competitors. The concept of brand love can create a competitive advantage for banks as one of these tools.