Brand Recognition and Consumer Choices

Merve Ozkurt Bas ()

Journal of Artificial Intelligence General science (JAIGS) ISSN:3006-4023, 2024, vol. 6, issue 1, 509-545

Abstract: This study investigates the influence of brand awareness on consumer purchase decisions in the banking sector, utilizing the Net Promoter Score (NPS) method. The findings highlight how brand awareness enhances consumer trust and guides purchasing tendencies. A comparative analysis between private and public banks reveals that institutions with strong brand awareness exert greater influence on customer preferences and foster trust. Additionally, the roles of pricing strategies, digital services, and customer experiences in building brand loyalty are examined. The study emphasizes the detrimental effects of inadequate digital services on loyalty while underscoring the pivotal role of digitalization in enhancing customer satisfaction. To improve loyalty, banks should strategically focus on building brand awareness, enhancing digital services, and optimizing pricing policies. In conclusion, brand awareness significantly impacts consumer choices, fostering long-term loyalty and equity, thereby providing businesses with a competitive advantage in marketing and customer relationship management.

Keywords: Brand Awareness; Purchase Decision; Banking Sector; Net Promoter Score (NPS); Customer Experience (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:das:njaigs:v:6:y:2024:i:1:p:509-545:id:281

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