Factors influencing brand strength: a case study of commercial banks in Ho Chi Minh City

Abstract

In the period of the economic opening, the competition between commercial banks is quite fierce. The brand is an essential factor for developing commerce, contributing to enhancing commercial civilization in healthy competition among banks. Besides, the brand identifies the origin of the products or the services, helping customers identify the specific services or distributor responsible for the product traded on the market. When consuming a product, thanks to the use process combined with that product’s marketing over the years, customers know and maintain using the brand. Therefore, this article’s objective is to determine the factors influencing commercial banks’ brand strength in Ho Chi Minh City (HCMC). The paper surveyed 800 staffs working for commercial banks in HCMC, but 785 samples processed and answered 23 items. The data collected from July 2020 to December 2020. The authors tested Cronbach’s Alpha, Confirmatory Factor Analysis (CFA), and Structural Equation Model (SEM) for factors affecting commercial banks’ brand strength with a significance level of 0.01.