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Banking Innovative Service With Digital Brand Equity for New Age Consumers: Internet Banking and Millennial Consumerism
Abstract
Digital banking is at the helm of all intangible transactions for the new age consumers in this world of touchless banking. So here in this chapter the authors tried to reconcile the new innovative content that will make this service to a notch higher. In goods industry, the product is considered as primary brand with various attributes. However, in case of services industry, the company itself is a primary brand. This research article is based upon primary research of services (banking) sector as a case of service branding with services extended marketing mix variables. A model has been developed to identify the impact of services extended marketing variables on customer-based brand equity. Two components of customer-based brand have been taken into consideration: brand awareness and brand association. For this purpose, structured questionnaire was prepared, and survey was conducted on 400 respondents and structural equation model has been applied.
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