Consumer-based Brand value: A study on Foreign Banks in Ho Chi Minh City Market

Abstract

The article presents an empirical study to discover consumers’ perception on foreign banks’ brand value which is said as one of key drivers for business success. The study is aimed at assisting brand managers to track their brand value and hence to improve their product and service quality. The conceptual model is founded on a consumer-based approach to brand value. To validate the model, a survey of 183 interviewees was carried out in four popular foreign banks in Ho Chi Minh City: Citibank, HSBC, ANZ and Standard Chartered (SCB). The collected data was tested and analyzed by Exploratory Factor Analysis. The study reveals that Brand Knowledge, Brand Differentiation, Brand Relevance and Brand Esteem correlate closely to each other and have a strong affect to Consumer-based Brand Value. The findings are discussed and the implications for banks’ management are presented.