Factors affecting the brand value of the Bank for Agriculture and Rural Development of Vietnam

MINISTRY OF EDUCATION AND TRAINING HO CHI MINH CITY UNIVERSITY OF ECONOMICS

TRAN THI THANH THUY

FACTORS AFFECTING THE BRAND VALUE OF THE BANK FOR AGRICULTURE AND RURAL DEVELOPMENT OF VIETNAM

Major: Finance - Banking Code: 60340201

MASTER'S THESIS IN ECONOMICS

SCIENTIFIC INSTRUCTOR: DR. LAI TIEN DINH

Ho Chi Minh City - 2013

COMMITMENT

I hereby certify that the thesis " Factors affecting the brand value of the Bank for Agriculture and Rural Development of Vietnam " is my own research work.

The data in this topic are collected and used honestly. The research results presented in this thesis are not copied from any thesis and have not been presented or published in any other research work before.

Thesis author

TRAN THI THANH THUY

INDEX

Cover Page Pledge Table of Contents

List of symbols and abbreviations List of tables

List of figures, graphs

INTRODUCTION 1

1. Reasons for choosing topic 1

2. Research objective 2

3. Research object and scope 2

4. Research method 3

5. Practical significance of topic 3

6. Topic structure 4

CHAPTER 1. THEORETICAL BASIS OF BRAND AND BRAND VALUE 5

1.1. BRAND OVERVIEW 5

1.1.1. Brand concept 5

1.1.2. Brand components 7

1.1.3. Brand characteristics 7

1.1.4. Bank brand 7

1.2. BRAND VALUE 9

1.2.1. Concept of brand value 9

1.2.2. Brand value assessment 10

1.2.2.1. Assessing brand value from a financial perspective 10

1.2.2.2. Evaluating brand value from the customer's perspective 11

1.2.3. Factors affecting brand value 11

1.2.3.1. Brand awareness 12

1.2.3.2. Brand association 13

1.2.3.3. Perceived quality 13

1.2.3.4. Brand loyalty 14

1.2.4. Benefits of brand value 16

1.2.4.1. Providing value to customers 16

1.2.4.2. Providing value to businesses 17

1.3. OVERVIEW OF RESEARCH RELATED TO BRAND VALUE 18

1.3.1. Research work of Kayaman and Arasli (2007) 18

1.3.2. Research work of Tong and Fawley (2009) 19

1.3.3. Research on brand equity measurement by Atilgan et al. (2009)

...................................................................................................................................20

1.3.4. Brand value measurement model of Nguyen Dinh Tho and Nguyen Thi Mai Trang (2002) 20

Chapter 1 21 Summary

CHAPTER 2. BUILDING A RESEARCH MODEL ON FACTORS AFFECTING AGRIBANK'S BRAND VALUE 22

2.1. OVERVIEW OF VIETNAM BANK FOR AGRICULTURE AND RURAL DEVELOPMENT 22

2.1.1. History of formation and development of Agribank 22

2.1.2. Agribank's business performance (2008 - 2012 period) ...23 2.1.3. Agribank's development orientation 25

2.2. BUILDING A RESEARCH MODEL ON FACTORS AFFECTING THE BRAND VALUE OF AGRIBANK 26

2.2.1. Reasons for choosing research model 26

2.2.2. Hypothesis on factors affecting Agribank's brand value.27

2.2.2.1. The relationship between brand awareness and brand value of Agribank 27

2.2.2.2. The relationship between brand association and brand value of Agribank 27

2.2.2.3. The relationship between perceived quality components and brand value of Agribank 28

2.2.2.4. The relationship between brand loyalty and Agribank brand value 28

2.3. RESEARCH METHODS 29

2.3.1. Qualitative research 30

2.3.2. Quantitative research 36

2.3.2.1. Research sample design 36

2.3.2.2. Data analysis method 37

.......................................................................................................... 39

CHAPTER 3. RESEARCH RESULTS 40

3.1. DATA ENCRYPTION 40

3.2. DESCRIPTIVE STATISTICAL ANALYSIS 40

3.2.1. Descriptive statistics of the survey subjects 40

3.2.2. Descriptive statistical analysis of independent and dependent variables 44

3.3. RELIABILITY TESTING OF SCALE 49

3.3.1. Scale evaluation using Cronbach Alpha reliability coefficient 49

3.2.2. Scale evaluation by exploratory factor analysis EFA 53

3.3. LINEAR REGRESSION ANALYSIS 63

3.3.1. Pearson correlation coefficient test 63

3.3.2. Multiple regression analysis 65

3.4. HYPOTHESIS TESTING 69

Chapter 3 Summary 70

CHAPTER 4. CONCLUSION AND SUGGESTIONS FOR SOME POLICIES TO IMPROVE AGRIBANK'S BRAND VALUE 72

4.1. CONCLUSIONS FROM THE STUDY 72

4.2. POLICY IMPLICATIONS 73

4.2.1. Enhance brand loyalty 73

4.2.2. Improving perceived quality 74

4.2.3. Enhance brand association 77

4.2.4. Enhance Agribank brand awareness 78

4.3. LIMITATIONS AND FURTHER RESEARCH DIRECTIONS 80

CONCLUSION 81

REFERENCES 82

APPENDIX 1

APPENDIX 2

APPENDIX 3

APPENDIX 4

LIST OF SYMBOLS AND ABBREVIATIONS

Abbreviations

Full English name	Full Vietnamese name
ABBank	An Binh Commercial Joint Stock Bank	Joint Stock Commercial Bank An Binh
ACB	Asia Commercial Bank	Joint Stock Commercial Bank Asia
Agribank	Vietnam Bank for Agriculture and Rural Development	Bank for Agriculture and Rural Development Vietnam Rural Development
Citibank		Citi Bank
Eximbank	Vietnam Export Import Bank	Joint Stock Commercial Bank Vietnam Import and Export
HDBank	Ho Chi Minh City Development Joint Stock Commercial Bank	Ho Chi Minh City Development Joint Stock Commercial Bank
HSBC	The Hong Kong and Shanghai Banking Corporation	Hong Kong and Bank Shanghai
Sacombank	Saigon Trade Center Commercial Joint Stock Bank	Joint Stock Commercial Bank Saigon Thuong Tin
Sacombank- SBS	Sacombank Securities Company	Bank Securities Company Saigon Thuong Tin goods
Sacomreal		Saigon Real Estate Joint Stock Company Trust
Sacombank- SBJ	Sacombank Jewelries Company	Ngan Gold and Gemstone Company Saigon Thuong Tin goods
Vietinbank	Vietnam Joint Stock Commercial Bank for Industry and Trade	Vietnam Joint Stock Commercial Bank for Industry and Trade

Maybe you are interested!

LIST OF TABLES

Table 2.1: Agribank's business performance in the period 2008-2012 Table 2.2: Research steps

Table 2.3. Scale after calibration

Table 3.1: Descriptive statistical results of independent variables Table 3.2: Descriptive statistical results of dependent variables

Table 3.3: Results of reliability assessment of factor scales Table 3.4: KMO and Bartlett tests for independent variables Table 3.5: Total variance extracted

Table 3.6: Rotated component matrix for independent variables

Table 3.7: Results of reliability assessment of factor scales after second factor analysis

Table 3.8: KMO and Bartlett test for dependent variables Table 3.9: Matrix of components for dependent variables Table 3.10: Total variance extracted for dependent variables

Table 3.11: Representative variables in the regression model