Rebranded Elements and Bank Preference

  • Yusuf Agana Hamidu Regentropfen College of Applied Sciences
  • Kwame Adom
  • Abiola Adeniyi
  • Stephen Kwabena Hammond

Abstract

This study sought to examine customers’ perception of the rebranding exercise by the largest bank in Ghana, GCB Bank with focus on selected rebranded elements and its influence on their bank preference. The perception of potential customers of the rebranded elements was ascertained using three of the selection criteria (memorability, meaningfulness and likeability) for brand elements. The selected brand elements in the context of this study included name, slogan and logo.  This research is quantitative and adopts the survey approach in collecting the data, specifically, with a structured questionnaire. A multiple regression analysis of the data from 214 respondents was used to address the major research objectives. The analysis of results revealed that customers’ perception of the rebranded elements had significant influence on their bank preference. The customers’ perception of the rebranding exercise had the most significant influence on their bank preference. Among the rebranded elements, the rebranded logo had the most significant influence on bank preference followed by the name. Service firms seeking to rebrand must consider customers’ perception prior to the exercise. Internal marketing (employee buy-in) and effective communication of purpose of the rebranding would also be relevant in the success of any rebranding exercise.

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Published
2020-07-30
How to Cite
HAMIDU, Yusuf Agana et al. Rebranded Elements and Bank Preference. Asian Journal of Research in Business and Management, [S.l.], v. 2, n. 2, p. 120-134, july 2020. Available at: <http://myjms.moe.gov.my/index.php/ajrbm/article/view/9904>. Date accessed: 11 aug. 2020.
Section
Articles