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Results of Reliability Assessment of Factor Scales After Second Factor Analysis


PQ17

Agribank always puts customer interests first

0.771





PQ22

Compared with other banking brands, Agribank's service quality is outstanding.

superior


0.735




PQ18

Agribank's working environment is professional.

0.731




BL29

I am a loyal customer of Agribank.


0.736




BL26

I do not want to switch to another bank's services because Agribank meets my requirements.

I



0.712




BL28

I will introduce the brand

Agribank with my friends and relatives



0.699



BL27

I will continue to use the product,

Agribank's services in the future


0.697



BL24

Agribank is a trusted brand


0.695



BL25

Agribank brand is my first choice


0.665



BL23

I am satisfied with Agribank's products and services.


0.591



BAS13

Agribank is a bank with uniforms.

nice and polite transaction



0.763


BAS12

Agribank is a bank with a fee schedule and

competitive interest rates



0.728


BAS11

Agribank is a bank that provides high quality services.



0.671


BAS9

Agribank brand leaves a good impression in customers' minds



0.614



BAS7

Agribank brand image is different from other bank brands




0.514


BAW1

I can recognize the Agribank logo




0.832

BAW5

I can distinguish Agribank from other bank brands




0.794

BAW4

I can recognize the Agribank sign.




0.793

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Results of Reliability Assessment of Factor Scales After Second Factor Analysis



BAW2

I can read the slogan of

Agribank





0.706

BAW6

When it comes to banking, Agribank is

the first brand that comes to mind




0.564

(Source: SPSS processing results)

With the KMO test result of 0.954 greater than 0.5 and the Barlett test with Sig. value less than 0.05, it shows that the observed variables are correlated with each other in the whole, it can be concluded that the 26 observed variables ensure the conditions to conduct EFA and can use those results.

The EFA analysis results with Eigenvalue criteria greater than 1 formed 4 factors. The total variance extracted was 74.95%, (greater than 50%) meeting the requirements of exploratory factor analysis and showing that these 4 factors explained 74.95% of the variation in the data. All factor loadings of the observed variables in each factor were greater than 0.5.

The four factors identified in Table 3.6 can be described as follows:

The first factor: includes the variables "Agribank staff are always polite and courteous to customers", "Agribank always fulfills its commitments to customers", "Agribank staff are always ready to support customers", "Agribank answers customers' questions and complaints quickly and reasonably", "Agribank's products and services are diverse", "Agribank's products and services are very convenient", "Agribank always puts customers' interests first", "Compared to other bank brands, Agribank's service quality is outstanding", "Agribank's working environment is professional". This factor has an Eigenvalue = 14.647 > 1, explaining 27.632% of the variation in the data and is the factor with the largest rate of explaining the variation in the data. The variables of the factor all show customers' evaluation of perceived quality of the Agribank brand, so it is named "Perceived Quality" .

The second group of factors includes the variables “ I am a loyal customer of Agribank ”, “I do not want to switch to using the services of another bank because


Agribank meets my requirements", "I will introduce Agribank brand to my friends and relatives", "I will continue to use Agribank's products and services in the future", "Agribank is a trustworthy brand", "Agribank brand is my first choice", "I am satisfied with Agribank's products and services". This factor has an Eigenvalue value = 2.273 > 1 and explains 17.746% of the variation in the data. Most of the variables of this factor show customers' assessment of loyalty to the Agribank brand, so it is named "Brand Loyalty" .

The third group of factors: includes the variables " Agribank is a bank with beautiful and polite transaction uniforms ", " Agribank is a bank with competitive fees and interest rates ", " Agribank is a bank that provides high-quality services ", " Agribank brand leaves a good impression in the minds of customers ", " Agribank brand image is different from other bank brands ". This factor has an Eigenvalue value = 1.528 > 1 and explains 15.449% of the variation in the data. The variables in the factor are explained by customers that this is their association when referring to the Agribank brand, so it is named "Brand association" .

Factor group 4: includes the variables "I can recognize the Agribank logo", "I can distinguish Agribank from other bank brands", "I can recognize the Agribank signboard", "I can read the slogan (commercial slogan) of Agribank", "When mentioning banks, Agribank is the first brand I think of" . This factor has an Eigenvalue = 1.039 > 1 and explains 14.122% of the variation in the data. The variables in the factor are all aimed at assessing the level of brand awareness of customers, so it is named "Brand awareness" .

The results of factor analysis give us the results of 4 factors affecting Brand Value : Perceived Quality , Brand Loyalty, Brand Association and Brand Awareness.


The factors of this new scale, after being tested for reliability by Cronbach's Alpha coefficient, are all greater than 0.6, and the observed variables all have variable-total correlations greater than 0.3, ensuring the conditions for performing the next analysis steps.

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


VARIABLE

Medium

scale

if variable type

Scale variance if

variable type

Total variable correlation

Cronbach's Alpha coefficient if excluded

variable

BRAND RECOGNITION: Cronbach's Alpha = 0.882

I can recognize the Agribank logo

13.25

17,463

0.687

0.864

I can read the slogan of Agribank.

13.88

16,730

0.777

0.842

I can recognize the Agribank sign.

13.18

17,585

0.689

0.863

I can distinguish Agribank from other bank brands

13.27

16,945

0.754

0.848

When it comes to banks, Agribank is the first brand that comes to mind.

14.08

17,645

0.679

0.866

BRAND ASSOCIATION: Cronbach's Alpha = 0.881

Agribank brand image is different from other bank brands


11.66


14,923


0.510


0.897

Agribank brand leaves a good impression in customers' minds

11.64

12,000

0.796

0.836

Agribank is a bank that provides high quality services.

11.92

11,096

0.803

0.835

Agribank is a bank with competitive fees and interest rates.

11.74

12,661

0.770

0.844

Agribank is a bank with beautiful and polite transaction uniforms.

11.69

12,060

0.719

0.856

PERCEIVED QUALITY: Cronbach's Alpha = 0.963

Agribank's products and services are diverse.

23.52

60,157

0.826

0.960

Agribank's products and services are very

23.69

59,353

0.885

0.957


utilities





Agribank always fulfills its commitments to customers.

23.41

60,702

0.862

0.958

Agribank always puts customer interests first

23.56

60,640

0.828

0.960

Agribank's working environment is professional.

23.71

58,589

0.880

0.957

Agribank answers customer questions and complaints quickly and reasonably.


23.58


61,403


0.818


0.960

Agribank staff is always ready to support customers.

23.64

61,890

0.802

0.961

Agribank staff are always polite and courteous to customers.

23.59

61,043

0.848

0.959

Compared with other bank brands, Agribank's service quality is more outstanding.


23.88


59,748


0.861


0.958


BRAND LOYALTY: Cronbach's Alpha = 0.945

I am satisfied with Agribank's products and services.

16.87

36,021

0.821

0.936

Agribank is a trusted brand

16.27

40,562

0.607

0.952

Agribank brand is my first choice

16.93

36,029

0.834

0.934

I do not want to switch to another bank's services because Agribank meets my requirements.


16.89


36,958


0.826


0.935

I will continue to use Agribank products and services in the future.

16.68

35,896

0.860

0.932

I will introduce Agribank brand to my friends and relatives.


16.80


35,811


0.878


0.930

I am a loyal customer of Agribank.

17.00

35,979

0.877

0.931

(Source: SPSS processing results)


3.2.2.2. Factor analysis of dependent variable

Qualitative research results show that Brand value from the customer's perspective is measured by 4 factors: the brand must be famous, prestigious, and recognized.


Many people love and consider it a strong brand. However, to evaluate the measurement level for the dependent variable, these 4 observed variables need to be included in factor analysis.

Table 3.8: KMO and Bartlett test for dependent variable


KMO and Bartlett's Test

Kaiser-Meyer-Olkin Measure of Sampling Adequacy.

0.804

Bartlett's Test of Sphericity

Approx. Chi-Square

463,816

df

6

Sig.

0.000

(Source: SPSS processing results)

With the KMO test result of 0.804 greater than 0.5 and less than 1, the Bartlett test has a Sig. value less than 0.05, proving that the observed variables are correlated with each other in the whole, all 4 variables have factor loading coefficients greater than 0.5, it can be concluded that the 4 observed variables ensure the conditions to conduct EFA exploratory factor analysis and can use those results.

Table 3.9: Matrix of components for dependent variable


Component Matrix a


Component

1

I think Agribank is a strong brand.

0.903

I think Agribank is a famous brand.

0.849

I think Agribank is a brand that many people love.

0.849

I think Agribank is a prestigious brand.

0.772


Extraction Method: Principal Component Analysis


(Source: SPSS processing results)


Table 3.10: Total variance extracted for dependent variables


Components

Initial Eigenvalues

Extraction Sums of Squared Loadings

Total

% of

Variance

cumulative

%

Total

% of

Variance

cumulative

%

1

2,853

71,326

71,326

2,853

71,326

71,326

2

0.521

13,016

84,342

3

0.392

9,803

94,145

4

0.234

5,855

100,000

Extraction Method: Principal Component Analysis

(Source: SPSS processing results)

The results of factor analysis of the dependent variable showed that only one factor was extracted, Eigenvalues ​​of 2.853 satisfied the condition of being greater than 1 and the total variance extracted was 71.326%, greater than 50%, showing that the conditions of factor analysis were suitable for the observed variables and the variables in the Brand Value scale explained well the measured quantity.

3.2.2.3. Summary of factor analysis results

The test results show that the 04 scales used in the model all have valid values. The 26 observed variables extracted into 4 factors are saved with representative names for use in the following regression and ANOVA analyses as shown in Table 3.11.

Table 3.11: Representative variables in the regression model



Representative variable/Encoding


Variable type


Number of variables


Observation variable


Brand Awareness/BAW


Independence


5

BAW1

BAW5

BAW4

BAW2

BAW6


Brand association/BAS


Independence


5

BAS13

BAS12

BAS11





BAS9

BAS7


Perceived Quality/PQ


Independence


9

PQ21

PQ16

PQ20

PQ19

PQ14

PQ15

PQ17

PQ22

PQ18


Brand Loyalty/BL


Independence


7

BL29

BL26

BL28

BL27

BL24

BL25

BL23


Brand Value/BE


Dependent


4

BE33

BE32

BE30

BE31

(Source: Author's analysis)


3.3. LINEAR REGRESSION ANALYSIS

After the factor analysis and correlation analysis stages, there are 04 independent variables and 01 dependent variable included in the model testing. In which, each variable in the model is scored by taking the average of the observed variables obtained from the results of factor analysis in the corresponding scale.

3.3.1. Pearson correlation coefficient test




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