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Designing a brand reputation model for Al-Rafidain Bank, Iraq with fundamental characteristics: an exploratory mix
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Umed Omer Abdulkareem1   , Naser Seifollahi Anar *2 , GHasem Zarei3 , Mohammad Bashokouh Ajirlou4 |
1- Department of Business Administration, Faculty of Social Sciences, University of Mohaghegh Ardabili, Ardabil, Iran
2- Department of business management, Faculty of Social Sciences, University of Mohaghegh Ardabili, Ardabili, Iran , naser_seifollahi@yahoo.com
3- Department of business management, Faculty of Social Sciences, University of Mohaghegh Ardabili, Ardabil, Iran
4- Department of business Management, Faculty of social sciences, university of mohaghegh Ardabili, Ardabil, Iran |
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Abstract: (16 Views) |
Objective: In the competitive environment of the banking system, brand reputation, as one of the intangible and strategic assets of organizations, plays a decisive role in attracting and retaining customers, creating trust, and ensuring long-term sustainability. Therefore, systematic management of brand reputation has become one of the basic priorities of banks. Al-Rafidain Bank of Iraq, as one of the well-known financial institutions in the region, requires a scientific and indigenous framework to explain and promote brand reputation in order to maintain its competitive position. Accordingly, the present study aims to provide a comprehensive model for Al-Rafidain Bank's brand reputation and is conducted using a data-driven approach.
Method: This study was designed and implemented with a two-stage exploratory mixed research approach, so that the results of the qualitative section were the basis for the development of tools and analyses of the quantitative section. In the qualitative phase, data were collected through semi-structured interviews with 11 managers, employees, and long-term customers of Al-Rafideen Bank using purposive sampling. The data collection process continued until theoretical saturation was achieved, and data analysis was performed using a data-driven approach and through open, axial, and selective coding. The findings from the qualitative phase formed the basis for developing a researcher-made questionnaire in the quantitative phase. The validity of the instrument was confirmed through expert opinion and its reliability was confirmed using Cronbach's alpha coefficient (0.89) and test-retest coefficient (0.86). The questionnaire was distributed among the statistical population including managers, long-term employees, and customers of the bank. Data analysis was performed using descriptive and inferential statistics, including correlation tests and linear regression using the partial least squares method, and using SPSS version 26 software. This methodological combination enabled the systematic identification of influential components and the development of the final model of bank brand reputation.
Findings: The results of the analyses showed that the antecedents of brand reputation formation in Al-Rafideen Bank include social, cultural and legal legitimacy, service quality and customer responsiveness. In addition, trustworthiness, financial stability, social responsibility, coherent organizational identity and competitive operational performance play a significant role in strengthening brand reputation. Also, transparent marketing strategies, technological innovations, branch network development and international presence were identified as effective background conditions for promoting brand reputation. Based on data from 215 participants (51.6% male and 48.4% female), of whom 53% were managers and employees and 47% were customers, the overall mean of brand reputation was 85.95 and the standard deviation was 13.71. The results of the tests indicated that there was no significant gender difference in all components except organizational identity (p>0.05). Also, the variables of work experience (β=0.57) and legitimacy (β=0.84) showed the greatest impact on brand reputation (p>0.05). Finally, the final regression model consisting of 12 variables explained the hierarchical and multidimensional structure of Al-Rafideen Bank's brand reputation.
Conclusion: The findings of this study indicate that Al-Rafideen Bank's brand reputation is the result of the interaction of a set of key factors, including legitimacy, service quality, trustworthiness, customer experience and satisfaction, and stakeholders' work experience. These factors play a combined and meaningful role in shaping and promoting brand reputation. Accordingly, strategic attention and integrated management of these components can pave the way for continuous improvement of the bank's reputation and competitive position in the dynamic environment of the banking industry. |
Article number: 21 |
| Keywords: Al-Rafidain Bank, Brand Reputation, Grounded Theory Approach, Model Design |
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Full-Text [PDF 734 kb]
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Article type: Research |
Subject:
General
Received: 2024/04/6 | Accepted: 2024/06/3 | Published: 2024/08/18
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Abdulkareem U O, Seifollahi Anar N, Zarei G, Bashokouh Ajirlou M. Designing a brand reputation model for Al-Rafidain Bank, Iraq with fundamental characteristics: an exploratory mix. mieaoi 2024; 13 (47) : 21 URL: http://mieaoi.ir/article-1-2122-en.html
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