Effect of Branding on Consumer Behaviour in Nigeria Banking Sector
Abstract
This paper examined the effect of branding on consumer behavior in the Nigerian banking sector. Access Bank PLC was selected and customers of their two branches in Osogbo were used as respondents for this study. Primary data was collected through the questionnaire administered on 150 customers of the bank. Linear regression and Analysis of Variance (ANOVA) were employed to examine the effect of brand image on consumer behavior and the effect of brand awareness on consumer behaviour at 0.05 level of significance. The results showed that brand image and brand awareness has significant effects on consumer behavior. It is concluded that for banks to survive and to remain highly competitive depend on brand image and brand awareness. It is therefore recommended that in order to maintain a strong brand and remain competitive, bank should lay more emphasis on brand awareness and map out strategies that will make their bank stand out since consumers will only recognize and recall the brands that they are well aware of.
Keywords: Brand image, brand awareness, consumer behavior, branding, banking sector.
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