Authors: 1David Ackah, PhD. | 2Amina Sammo | 3Stephen K. Hammond, DBA
1Community & Economic Development Department, Akamai University, USA
2Social Service Department, Ministry of Zongo & Inner City Development, Ghana
3Project Management Unit, Ghana Commercial Bank Ltd
Marketing events are geared toward customers’ thoughts, experiences, feelings, attitudes, beliefs and opinions towards a brand. Corporate branding is difficult to achieve in banking, largely because the banks’ products and services are intangible; and can easily be imitated by competitors. The study sought to investigate and analyse the impact of corporate rebranding on customer perception in the banking industry through the various dimensions of the SERVQUAL model. A sample size (n) of 381 was reached using the sample size formula propounded by Groves R. M, (2010) in the article “Survey Methodology, Second edition of the (2004) first edition”. Respondents were drawn from the management, staff and customers of six major banks (GCB Bank Ltd, Societe Generale Ghana, Agricultural Development Bank-ADB, GN Bank, Omnibank, CAL Bank) which have rebranded in Ghana. The research data was collected through questionnaires and structured interviews. The study made use of the Statistical Package for the Social Science (SPSS) software to analyse the data using the ANOVA model and regression. The study concluded that customers have some level of understanding of corporate rebranding. This level of knowledge by customer created an enormous degree of expectation in the improvement of service quality of banks. On paper, banks had good roadmaps for achieving their corporate rebranding, but in practice, it was more of a change of name, logo, tagline, colours, etc. Little or nothing has been done by banks to improve service quality of their financial institution. Customers indicated that when banks embark on corporate rebranding, they expect them to improve their tangibility, responsiveness, empathy, assurance and reliability dimensions. After taking a statistical measure of customers’ experience during and after corporate rebranding by banks, it was clear again that customers’ expectation were not met for all the dimensions of SERVQUAL model by banks.
Keywords: Empirical Exploration, Customer Perception, Bank Corporate Rebranding