The Influence of Internet Promotion on Brand Equity of Commercial Banks in Kenya
This study examines the influence of internet promotion on brand equity of commercial banks in Kenya. Its main objective is to analyze the extent of how internet promotion enhances brand equity of commercial banks within the Kenyan sector. Using a descriptive census study, a population representation of all commercial bank tiers was drawn and a size of 43 was used to represent the entire population. Out of that, 38 responded, giving it an 88.4% respondent rate. The data was analyzed using statistical analysis to evaluate brand development that creates brand equity, whose influence depended on selling price of products, product development and market development evaluation and monitoring. The study also found that, internet promotion perceived to create brand awareness was considered inferior to other factors of promotion. Further into the study, it was revealed that internet promotion is strongly associated to the brand, indicating therefore, internet promotion as an important tool on brand positioning online using tools like search engines, viral strategies, online news releases, online trade publications and many other online strategic platforms that would guide readers to the bank‟s URL. The influence of brand net-worth was also evaluated and correlated to how a corporate brand is perceived through its listing on the site when a reader peruses through search engines, online publications, banner advertisements and paid online advertising portal sites. Since the influence of internet promotion on brand equity of commercial banks in Kenya has been established as an important factor that cannot be ignored by the management of the commercial banks, it is ultimately important to embrace it as a major influence in achieving high equity net-worth of a brand, and is therefore seen as a drive to achieve a bank‟s corporate brand growth within the Kenyan banking sector. As a result, recommendations were made; among the major recommendation of the study is that, other researchers to further evaluate other factors that will unify elements affecting brand equity, since internet promotion; which has been largely correlated to success of corporate brand, would not by itself elevate high net-worth of brand equity.
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