Measuring and Enhancing Customer Trust

into customer perception, or more specifically, help customers easily associate with a brand every time they encounter it.

Once a customer has purchased a product, marketers can use promotional activities to build a long-term relationship that will turn them into loyal customers. For example, businesses can collect customer email addresses and send product updates or issue discount cards to encourage customers to use the product more in the future. PR activities not only influence public perception but also help build and maintain brand reputation. PR is also a weapon to effectively support promotional and advertising activities. The PR department must perform all organizational communication functions such as PR, community work, environmental communication, investor relations and internal communication.

Currently, although Vietcombank has a PR department, in reality, the PR department has not yet performed all the functions of this work, so it has not created its effectiveness and mark in brand positioning.There are some very important things that the PR department must do in the coming time such as:

Publish magazines for non-bank audiences such as customers, shareholders, partners, in which customers are the most important. Customers will be more attached when they see themselves as a part of all bank activities. They will be listened to and shared in all events taking place at the bank.

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Write and publish documents on the Bank's development history, annual reports... and widely publicize them to the public.

Plan and manage annual PR programs and monitor their performance.

Conduct surveys, collect customer feedback, evaluate the results and thereby help departments develop business solutions that are suitable for practical needs. Before coming to the bank, customers have a certain level of expectation. That expectation can be formed by word of mouth, from personal needs and from the customer's past experiences. The higher the ability to meet customer expectations, the closer the customer's perception of the Vietcombank brand will be to the brand team.

It can be said that the brand plays a decisive role in the existence and development of banks, especially during the global economic recession. Banks in the Vietnamese banking system need to build their own brand to be different, highly recognizable, create identity and reputation, be internationalized and convey unique values that are both timely and focus on the wishes of customers. This is also an important direction in building Vietcombank's brand in the coming time.

4.3.2.9 Measuring and enhancing customer trust

The operating principle of business and service organizations is to satisfy the needs of customers, because customers are the source of revenue and profit of the business. Consumer satisfaction with a service is the feeling towards a service business company based on previous contact or transaction with that company (Bitner & Hubbert, 1994).

Satisfaction is the level of a person's emotional state that begins with comparing the results obtained from a product or service with his or her expectations (Philip Kotler, 2001). Expectations are considered as human desires or hopes. They originate from personal needs, previous experiences and external information such as advertising, information, word of mouth from friends, family... In which personal needs

is a factor formed from human perception of the desire to satisfy something such as the need for communication, food, rest, etc.

Therefore, measuring customer satisfaction is also measuring the trust in the business in the hearts of customers. To measure the perception of customer trust in the bank's products and services, Vietcombank needs to pay attention to issues related to the tastes, habits and characteristics of customers when using products and services. To do this, Vietcombank needs to establish a research and development department to promptly grasp the rapid changes in the market mechanism to meet the increasingly diverse needs of customers.

4.4 Brand protection

4.4.1 Trademark registration

Brand protection is necessary to combat trademark infringement both domestically and internationally. Vietcombank has registered its trademark at the Vietnam Intellectual Property Office, but the registration procedures in other countries around the world have not been completed, so VCB needs to quickly complete this registration procedure. This is something that Vietinbank has done better than Vietcombank when it has registered its trademark in more than 50 countries.

The establishment of technical barriers to protect the brand such as registering domain names for all domain names similar to Vietcombank.com.vn has not received due attention.

One of the important technical barriers to protect VCB's reputation is the ethics of VCB employees. VCB needs to strengthen the education of all VCB employees to strictly comply with regulations in operations, and at the same time strengthen the role of inspection and supervision to prevent violations that negatively affect VCB's image to customers and society.

4.4.2

In today's competitive "flat world", creating technical barriers to protect brand reputation is essential. Establishing technical barriers includes a combination of activities that increase the bank's competitiveness. Including:

4.4.3 Improve business management skills

Many Asian countries, typically Singapore, have invested in building and implementing a large-scale program since 2001, requiring all businesses to further improve their professional expertise, although they are currently dominating many aspects of the world trade market. Improving business management is also a regular practice of most businesses in developed countries. Innovation in management activities includes two basic aspects: people and applications of information technology in the management process.

4.4.4 Development of information technology systems

Developing information technology systems in operations to increase customer confidence. Ensuring transaction safety and customer information security, linking information security with operational risk management and developing customer confidence will bring a competitive advantage. Strengthening the modernization of banking technology and expanding banking services are mandatory requirements of the financial market and international economic integration, meeting the growing needs of businesses and residents.

4.4.5 Building advanced control tools

Strengthen inspection, control and supervision of all areas of banking operations in accordance with international practices and standards. Enhance transparency in banking operations. Develop effective mechanisms and measures to

Monitor and handle all types of risks, especially high-risk areas such as foreign exchange trading, real estate investment, business, securities investment...

4.4.6 Develop standards to evaluate training and development of staff

Building a KPI performance evaluation system that meets the requirements of linking human resource development with the process of restructuring the organization and operations of the bank on the basis of modern technology, international standards and professional staff.

4.4.7 Using modern technology to prevent counterfeiting of important seals

Vietcombank also needs to implement anti-counterfeiting elements for important seals in use. This is necessary to strengthen customer trust. Important seals that need to have anti-counterfeiting elements include: savings books, deposit certificates, letters of guarantee, ATM cards, credit cards, etc.

4.4.8 Develop and complete internal regulations

To build technical barriers to protect the brand, one of the key tasks is to innovate and improve the internal regulatory system. In the stage of integration and competition, the bank's products not only serve domestic customers but also international customers, so building and improving internal processes is a necessary task to contribute to improving the efficiency of the bank's operations. Internal processes include:

- Operation management process of departments and divisions.

- Coordination process between relevant departments.

- Operational regulations on new banking services and operations.

- Communication and operation process with customers.

- Regulations on communication and behavior between leaders and employees and vice versa.

Regulations on behavior between colleagues.

- Ongoing socio-economic issues and the bank's attitude towards them…

4.4.9 Testing and evaluation

Testing and evaluation are extremely important because leaders have to adjust products, promotional communications, or even the position of the business if the market situation changes. Without testing and evaluation, we can be out of step with the market and society. Especially in brand culture, when the intangible value group dominates a lot. Vietcombank has also fallen asleep on what it has and lost market share to other banks. Brand management is a long-term process and requires regular feedback from all parties. There is no room for complacency, because just one subjectivity, one unexpected mistake can destroy everything we have worked so hard to build. If not strengthened and developed, the brand will be overshadowed by factors from both inside and outside and be dominated by other factors with greater influence, even replaced.

Creating a perfect and influential Vietcombank brand is extremely difficult, but careful management helps Vietcombank develop sustainably. To check and evaluate, the leadership needs to request the functional departments to do the following tasks:

- Check and listen to feedback from managers and employees about their activities. Can be conducted periodically or suddenly from facilities such as transaction offices, branches to headquarters.

- Listen to customer opinions through surveys, questionnaires or organizing meetings and seminars with customers and adjust your activities accordingly.

- Check and evaluate each employee and each branch according to quality standards and requirements in the issued cultural handbook.

Have a clear reward and punishment system, publicly known to all members and encourage all employees to participate in this evaluation process.

Chapter 4 Conclusion

In chapter 4, the thesis proposes a number of solutions to enhance Vietcombank brand management. These solutions are proposed based on the research results of chapters 2 and 3 and are arranged into groups of solutions on brand identity, brand reputation and brand protection. These solutions are highly practical and can be applied not only to Vietcombank but also to the entire Vietnamese commercial banking system.

CONCLUDE

The thesis has generalized the concepts of brand, the role of brand and brand management. The thesis has presented a number of brand management models based on brand identity and reputation, and drawn out factors related to brand management such as: brand identity, brand reputation, brand team, employees, customers, communication activities. The goal of brand management is to reduce the gap between brand identity and reputation, in which identity is internal brand awareness, and brand identity is customer awareness of the brand, obtained through the accumulation of transaction experience, communication, etc.

Based on the purpose of brand management, the author proposed a research model and built the following hypotheses:

Hypothesis 1: There is an inverse relationship between the brand team's level of brand identity awareness and the gap between brand identity and reputation.

Hypothesis 2: There is an inverse relationship between employees' level of brand identity awareness and the gap between brand identity and reputation.

Hypothesis 3: There is an inverse relationship between the level of customer brand identity awareness and the gap between brand identity and reputation.