Impact On Brand Awareness

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CHAPTER ONE 1.1 Background to the Study Branding has become one of the most important strategic tools since its inception and adaptation. Branding has been applied to all kinds of commodities, institutions, personalities, and pets among others due to its effectiveness and contribution to the bottom line. Over a period of time most brands lose their relevance in the eyes of their consumers in particular and market in general. This brings to bear the role of rebranding either the product or organisation. Establishing brand awareness amongst consumers is an initial and crucial step in building strong brands (Gerber and Boshoff, 2008; Ye & Van Raaij, 2004). Brand awareness relates to the strength of a brand’s presence in consumers’ minds (Aaker,…show more content…
Thus, it is important for businesses to create attraction in their brands to be in better position than their competitors. This is evident that the consumers disseminate and always willing to acquire a product, so the brand awareness is always a vital factor to manipulate the buying decisions and purchase intensions (Macdonald & Sharp, 2003). Retailer as well as purchase behaviour of consumer slants if a product comprises elevated alertness regarding the brand (Grewal, Monroe & Krishnan, 1998).Profitability performance tends to have positive relationship with brand image. Profitability performance is a monetary input of brand to the revenue of the retailer (Bank). The fundamental reason is that superior plane of responsiveness will direct to elevate buying behaviour. Customers having no knowledge of the brand will have no intension of buying it either. High brand awareness can influence the retailers’ or resellers’ purchase decision (Grewal et al.,…show more content…
What is the customer perception of the brand image of Bank of Africa Ghana, Tamale? 2. What factors influence customers’ perception of brand image of BOA in Tamale? 3. What is the influence brand image have on customer acquisition and retention by BOA in Tamale? 4. What is the relationship between customers’ perception of brand image and profitability of BOA in Tamale? 1.5 Significance of the Study The results of this study provide insights into how the brand image of an entity can be enhanced to achieve greater profitability. It also adds to existing literature on what constitutes customers’ perception of a brand and how brand image affects customer acquisition, retention and loyalty. To the banking industry, findings from this study could help sharpen policy on branding, which eventually would increase profitability. 1.6 Scope of the Study This study focuses on the importance of brand image for banks. It is limited to the branches of Bank of Africa in the northern regions of Ghana. The study would be conducted between the periods of January to May 2015. 1.7 Limitations of the

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