THE EFFECTS OF REBRANDING ON CUSTOMER PERCEPTION: A …

THE EFFECTS OF REBRANDING ON CUSTOMER PERCEPTION:

A CASE OF SIDIAN BANK

BY

MWANZIA JUDY NDUKU

UNITED STATES INTERNATIONAL UNIVERISTY- AFRICA

SPRING 2018

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THE EFFECTS OF REBRANDING ON CUSTOMER PERCEPTION:

A CASE OF SIDIAN BANK

BY

MWANZIA JUDY NDUKU

A Research Project Report Submitted to the Chandaria School of

Business in Partial Fulfillment of the Requirement for the Degree of

Master of Business Administration (MBA)

UNITED STATES INTERNATIONAL UNIVERISTY-AFRICA

SPRING 2018

iii

DECLARATION

I, the undersigned, declare that this is my original work and has not been submitted to any

other college, institution or university other than United States International University-

Africa for academic credit.

Signed: Date:

Mwanzia Judy Nduku (ID: 618111)

This research report has been presented for examination with my approval as the appointed

supervisor.

Signed: Date:

Dr. Peter Kiriri

Signed: Date:

Dean, Chandaria School of Business

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COPYRIGHT

All rights reserved. No part of this work may be reproduced, stored in a retrieval system or

transmitted in any form or by any means, electronic, mechanical, photocopying, recording

or otherwise without the consent of the author.

Mwanzia Judy Nduku © 2018

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ABSTRACT

The general objective of the study was to evaluate the effects of rebranding on customer

perception. The study was guided by the following specific objectives: to evaluate the effect

of corporate identity change on customer perception, to examine the effect of repositioning

on customer perception and to determine the effect on perceived quality on customer

perception.

In this study descriptive research design was applied, which sought to retrospectively

collect data conducted on representative samples of a population. Descriptive studies

sought to answer questions of who, what, when, where and how in a given topic. The

population of this study consisted of Sidian bank customers in Nairobi. Systematic

sampling was be applied by selecting every 4th customer visiting the bank branch as the

study was only interested in customers of Sidian Bank. For purposes of this study, the data

collection was carried out through questionnaires. Research assistants were engaged to help

in distributing the questionnaires to the respondents. The collected data was analysed using

descriptive statistics as well as regression analysis and it was presented in tables.

On analysis of the primary objective on, the effect of corporate identity change on customer

perception. The study revealed that majority of the respondents were in agreement about

the various aspects of corporate identity on customer perception because they can identify

the bank easier than before, they easily recall the new brand name than before, they prefer

the current brand name than the previous name, the new design layout is more attractive

than the previous one while, the new design has sparked their interest in their products

while they prefer the new brand colors than the previous color and finally they can identify

the new colors with a commercial bank and not a micro-finance institution.

The study established that there was a significant relationship between repositioning and

customer perception because they like the new brand communication, they prefer the new

communication from the brand than previous communication as new communication is

distinct from other banks while they talk more positively about the new brand than the

previous, the new brand is modern and competent compared to the previous, they would be

willing to pay a premium price for products with the new brand than previous, on the other

hand, they like being associated with the new brand more than the previous, they like the

new position of the brand as the new brand is better than the previous as the new position

of the brand is on the same level as market leaders and respondents agreed the new position

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is more favorable than the previous. Finally they have a more positive attitude about the

new position than previous.

Finally the study reveals that there was a significant relationship between perceived quality

and perception because agreed that they expect better service quality from the new bank of

the brand, they prefer the services from the new bank more than previous, the new bank is

more dependable than previous, customers prefer the reputation of the new bank than

previous, the new bank demonstrates adherence to customer financial safety and quality

measures than previous, the new bank has up-to-date equipment compared to previous,

employees are well dressed and appear neater compared to previous, the physical

environment of the new bank is clean compared to previous, the new bank performs the

service right the first time compared to previous.

The study concludes that there was a significant relationship between corporate identity

and customer perception. The study further concluded the significant relationship between

repositioning and customer perception. Finally the study concluded that there was a

significant relationship between perceived quality and perception.

The study concluded that indeed rebranding affects consumer perception of a brand. Based

on information provided by the consumers of Sidian Bank, it was clear that consumer

perception is an issue that companies who wish to rebrand should consider greatly.

However, the execution aspect faces some challenges as most corporations fail to gather

detailed information about all elements affecting of consumer perception before releasing

their brands to the market.

This study therefore recommends that even though change of the corporate identity is an

important aspect of rebranding it cannot solely be responsible for a complete positive

change of consumer perception especially in a service industry like banking, repositioning

and service quality play an integral part in how the consumer experiences the new brand

promise.

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ACKNOWLEDGEMENT

I would like to express my great appreciation to God and my family for the support,

patience and encouragement that enabled me to complete my studies. My sincere gratitude

to Dr. Kiriri for the valuable and constructive suggestions during the planning and

development of this research work.

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TABLE OF CONTENTS

DECLARATION .......................................................................................................... III

COPYRIGHT ............................................................................................................... IV

ABSTRACT .................................................................................................................... V

ACKNOWLEDGEMENT .......................................................................................... VII

TABLE OF CONTENTS .......................................................................................... VIII

LIST OF TABLES .......................................................................................................... X

LIST OF FIGURES ...................................................................................................... XI

CHAPTER ONE .............................................................................................................. 1

1.0 INTRODUCTION ..................................................................................................... 1

1.1 Background of the Study ............................................................................................. 1

1.2 Statement of the Problem ............................................................................................ 5

1.3 General Objective ........................................................................................................ 6

1.4 Specific Objectives ...................................................................................................... 6

1.5 Importance of the Study .............................................................................................. 6

1.6 Scope of the Study ....................................................................................................... 7

1.7 Definition of Terms ..................................................................................................... 7

1.8 Chapter Summary ........................................................................................................ 8

CHAPTER TWO ............................................................................................................. 9

2.0 LITERATURE REVIEW ......................................................................................... 9

2.1 Introduction ................................................................................................................. 9

2.2 The Effect of Corporate Identity Change on Consumer’s Perception ......................... 9

2.3 The Effect of Repositioning on Consumer’s Perception. .......................................... 12

2.4 The Effects of Perceived Quality on Consumer’s Perception ................................... 17

2.5 Chapter Summary ...................................................................................................... 22

CHAPTER THREE ....................................................................................................... 23

3.0 RESEARCH METHODOLOGY ........................................................................... 23

3.1 Introduction ............................................................................................................... 23

3.2 Research Design ........................................................................................................ 23

3.3 Population and Sampling Design .............................................................................. 23

3.4 Data Collection Methods ........................................................................................... 25

3.5 Research Procedures .................................................................................................. 25

3.6 Data Analysis Methods .............................................................................................. 26

3.7 Chapter Summary ...................................................................................................... 26

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CHAPTER FOUR ......................................................................................................... 27

4.0 RESULTS AND FINDINGS ................................................................................... 27

4.1 Introduction ............................................................................................................... 27

4.2 Background Information ........................................................................................... 27

4.3 Corporate Identity and Customer Perception ............................................................ 29

4.4 Repositioning and Customer Perception ................................................................... 33

4.5 Perceived Quality and Customer Perception ............................................................. 35

4.6 Chapter Summary ...................................................................................................... 38

CHAPTER FIVE ........................................................................................................... 39

5.0 DISCUSSION, CONCLUSION AND RECOMMENDATIONS ........................ 39

5.1 Introduction ............................................................................................................... 39

5.2 Summary .................................................................................................................... 39

5.3 Discussion .................................................................................................................. 40

5.4 Conclusions ............................................................................................................... 47

5.5 Recommendations ..................................................................................................... 48

REFERENCES .............................................................................................................. 50

APPENDICES ................................................................................................................ 56

APPENDIX I: INTRODUCTION LETTER .............................................................. 56

APPENDIX II: QUESTIONNAIRE ............................................................................ 57

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LIST OF TABLES

Table 4.1: Gender of the Respondents ............................................................................... 27

Table 4.2: Age of the Respondents .................................................................................... 28

Table 4.3: Level of Income ................................................................................................ 28

Table 4.4: Corporate Identity and Customer Perception ................................................... 32

Table 4.5: Corporate Identity and Customer Perception ................................................... 32

Table 4.6: Relationship between Corporate Identity and Customer Perception ................ 33

Table 4.7: Repositioning and Customer Perception .......................................................... 33

Table 4.9: Relationship between Repositioning and Customer Perception ....................... 35

Table 4.10: Perceived Quality and Customer Perception .................................................. 36

Table 4.11: Model Summary for Perceived Quality and Customer Perception ................ 37

Table 4.12: Relationship between Perceived Quality and Customer Perception............... 38

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LIST OF FIGURES

Figure 4.1 Customer Ability to Identify Bank…………………………………….29

Figure 4.2 Customer Ability to Recall New Brand Name………………………...30

Figure 4.3 Customer Preference of Brand Name………………………………….31

Figure 4.4. Perception on Attractiveness of New Design…………………………31

Figure 4.5 New Design and Product Interest……………………………………...32

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CHAPTER ONE

1.0 INTRODUCTION

1.1 Background of the Study

Marketing strives to proudly understand the customer to develop a product or service which

the customer will want. Once that information is gathered, that information is transferred

to the business, which in turn produces a product according to those specifications. Once a

product has been created, the marketing department is responsible for communicating to

the consumer the benefits of the products, and the points out how their product differs from

the competition (Moore & Pareek, 2010).

Marketing management is the art and science of choosing target markets and getting,

keeping and growing customers through creating, delivering and communicating superior

customer value (Kotler & Keller, 2012). Customer orientation is concerned with creating

superior value by continuously developing and redeveloping product and service offerings

to meet customer needs. To do so we must measure customer satisfaction on a continuous

basis (Baines, Fill, & Page, 2011). As defined by Kotler and Keller (2012) consumer

markets companies selling mass consumers and services such as juices, cosmetics, athletic

shoes, and air travel spend a great deal of time establishing a strong brand image by

developing a superior product and packaging, ensuring its availability, and backing it with

engaging communications and reliable service.

According to Keller (2008) a brand image is considered to be all about perceptions about a

certain brand which is a reflection of that occur in the mind of a consumer. Aeker (1996)

further argues that such associations make reference to any brand aspect that occur in the

memory of the consumer’s memory. Roy and Banerjee (2007) argues that brand image is a

description of the thoughts and feelings of the consumer towards the brand. Faircloth

(2005) further defines a brand image as the overall mental image which is visible in the

mind of the consumer as well as its uniqueness when compared to other brands.

Brand image is mainly made up of the knowledge of the consumer as well as what the

consumer believes about the diverse products of a particular brand forgetting the non-

product attribute. Brand image is also considered to be a representation of the personal

symbolism that the consumer associates with a particular brand and which is made up of

all the descriptive and evaluative brand- related information (Iversen & Hem, 2008). In the

event that consumers have in mind a brand image which is favourable, then it follows that

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the message of the brand will strongly influence the message of the competitor. In this

regard therefore the brand image is considered to be a very essential determinant when it

comes to the behaviour of the buyer (Burmann, 2008).

An image which is considered to be favourable is likely to have a positive influence on

when it comes to the behaviour of the consumer towards a particular brand especially when

it comes to matters to do with consumer loyalty and also with regards when it comes to

commanding a price premium and towards the brand in terms of increasing loyalty,

commanding a price premium as well as in the generation of word- of- mouth which is

positive towards that particular brand (Martenson, 2007). Faircloth (2001) established that

brand image has a positive influence on consumer loyalty this is mainly because the more

positive the brand image, the more likely it will be for consumers to willingly pay for that

particular brand (Nguyen & Kleiner, 2003).

Repositioning contains communication actions regarding the development of images of the

brands that companies offer. The pre-requisite of creating a successful and a strong brand

is “being different” from competitors (Kotler, 2005). Creating desirable brand image in the

minds of consumers requires a coherent and integrated planning of course; brand

positioning can be described as an effort to create a distinctive merit compatible with brand

identity elements (Karadeniz, 2009). Some brands may need to re-position their market

share, re-creating the brand image may gain new customers but it can also cause the loss of

current customers enjoying your brand with its old image.

In the ever increasing competitive market place marketers of fast moving consumer goods

need to differentiate their products from those of competitors in a pursuit to meet

customer’s functional and emotional needs. Product differentiation as defined by Trout

(2009) is the values owned by a product, real or perceived, rational or emotional, and the

real place they occupy in the consumers’ mind beyond the consumer just being aware of

them. And the degree to which they possess these values and have meaning in the

consumers’ lives (beyond primacy of product) determines whether they have differentiated

themselves.

Creating an effective brand name, however, is a challenging task. Brand names help

identify the product, but more importantly take on their own meaning and presence because

they represent a rich configuration of symbols and meanings that are embodied by products

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(Levy, 1978). Therefore, according to Kohli and LeBahn (1995) a new brand name should

not only appeal to the customers, it should have other desirable properties depending on the

nature of the market. These may include connotations associated with the brand name,

relevance to the product, memorability, and the ability of the brand name to offer a

distinctive image over competing products. According to Keller (2008) the core base of

naming a brand is that it should be unique, can be easily discriminated from other names,

easy to remember and are attractive to customers.

Building a strong brand is both an art and a science. It requires careful planning, a deep

long-term commitment, and creatively designed and executed marketing. A strong brand

commands intense consumer loyalty- as its heart is a great product or service (Kotler &

Keller, 2011). A credible brand signals a certain level of quality so that satisfied buyers

can easily choose the product again. Although competitors may duplicate manufacturing

processes and product designs, they cannot easily match lasting impressions left in the

minds of individuals and organizations by years of product experience and marketing

activity (Kotler & Keller, 2011).

The brand is ultimately what determines if one will become a loyal customer or not. The

marketing may convince a customer to buy a specific product but it is the brand that will

determine if he/she will only buy the specific brand for the rest of their life. The lived

experience of the brand is integral here, in that, the brand needs to deliver on its promises

of quality and consistency. Brands have become major players in modern society, even

neurosciences tells us that we do not drive a car but a brand of car, not drink a cola but a

Coke or Pepsi (Kapferer, 2012). Many consumers will pay more for a Coke than for a

generic brand of cola, even if they often cannot tell the difference in taste. Clearly the brand

offers a set of benefits that extend far beyond the attributes of their product (Moore &

Pareek, 2010).

Delattre (2002) analyses four categories of reasons to rebrand as follows: new corporate

image, new management or shareholding structure, new activity, and change of legal status.





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Pareek, 2010). Rebranding refers to the repositioning, revitalizing, or rejuvenating of a

brand. Delattre (2002) analyses four categories of reasons to rebrand as follows: new

corporate image, new management or shareholding structure, new activity, and change of

legal status.

Consumer behaviour is the study of individuals, and the processes they use to select, secure,

and dispose of products to satisfy needs and the impacts that these processes have on the

consumer and society (Schiffman & Kanuk, 2009). Perception in marketing is described as

a process by which a consumer identifies, organises and interprets information to create

meaning (Schiffman & Kanuk, 2009). Consumer perception of products influences product

decisions, packaging decisions, advertising decisions and promotion decisions. A brand

name change, product name change can be done because of mergers which allow the

company to enter global markets, and seek more profits. It can also aim to renew its product

image so that it conveys a new message, and clarify the company’s positioning to its

consumers (Derexel & Gerlica, 2014). If not studied enough, this opportunity to earn more

money thanks to the changing name, can turn into a disaster. A company must take into

account the consumer’s point of view about the change. If the change it too brutal,

consumers may lose their faithfulness towards the brand or product and because of this,

they can even stop buying the product itself (Derexel & Gerlica, 2014).

Sidian Bank formerly known as K-Rep was established in 1984 as a project that supported

the development of small and micro enterprises through the NGO managed programs. In

1987, the project was incorporated as a local NGO. It changed its original strategy of

supporting NGOs with grants and technical assistance to that of advancing loans to the

NGOs in 1989. In the same year, it established a micro- credit lending program and

established this as the core business and growth area. It also expanded its activities to

include research and product development, as well as changing its technical assistance

activities to a for-a-fee capacity building service, (Sidian Bank, 2018).

5

With assets of KES 13.2 billion as at March 31, 2014, it is now a full service commercial

bank providing and array of financial services to individuals, small businesses, middle-

market companies, and major corporations. The bank operates 38 branches in all major

towns across Kenya. In early 2016, the bank rebranded and changed its name to Sidian

Bank (Sidian Bank, 2018).

K-Rep bank rebranded to Sidian Bank as its new majority shareholder Centum Investments

sought to boost its image as a fully-fledged bank and shed that of a microfinance institution.

Centum in October 2015 injected KES 1.2 billion into K-Rep raising the bank’s core capital

to KES 3.8 billion, giving it room to increase its loans to customers. The tier-three lender

has received approval to change its name, actualising its long-held ambition to rebrand its

operations to enhance customer confidence and grow its business (Sidian Bank, 2018).

A brand audit conducted by the firm discovered there was still a big perception in the

consumers mind that K-Rep were simply a micro lender. The rebranding is the last step in

an operations overhaul which has included retraining of staff, enhancing customer relations

and the core banking system, a process which has been ongoing since the bank was bought

out (Mutegi, 2016).

1.2 Statement of the Problem

Rebranding is an exceedingly involving activity for an organisation in terms of time and

money. It is however not effectively evaluated from a consumers’ point of view, given the

ultimate decision rests with the consumer; it is therefore important to evaluate the impact

rebranding has on the overall consumer perception of the brand. There is little agreement

about which determinants explain the most effective way of framing customer perspective

on a brand. Faircloth (2001) proposes that brand image has a positive influence on

consumer loyalty this is mainly because the more positive the brand image, the more likely

it will be for consumers to willingly pay for that particular brand (Nguyen & Kleiner, 2003).

Whilst there are a number of variables that could be useful as determinants of how

consumers perceive a brand, research gaps remain regarding the effect of rebranding in

commercial banking. A similar study was undertaken by Angasa and Kinoti (2013) to

establish the relationship between branding on customer perception however; this study did

not focus on customer perception of rebranding in the banking industry. This study

therefore attempted to fill this knowledge gap.

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This study guided management of the organisation to verify the return on investment of a

rebranding exercise to the company bottom line and its effect on brand equity. It will

influence the policy on how often the company should undertake the exercise depending

on the results of the research. The research sought to determine if the brand is an asset or a

liability to the organisation that recently acquired K-Rep bank, Centum. This study sought

to determine the competitive positioning the new brand has in the commercial banking

industry in Kenya.

1.3 General Objective

The general objective of the study was to evaluate the effects of rebranding on customer

perception.

1.4 Specific Objectives

1.4.1 To evaluate the effect of corporate identity change on customer perception.

1.4.2 To examine the effect of repositioning on customer perception.

1.4.3 To determine the effect on perceived quality on customer perception.

1.4.4 To determine the effect of product features on customer perception.

1.5 Importance of the Study

1.5.1 Investors and Management

The study validated the actual value of an expensive rebranding exercise to investors. The

findings from this study may assist the board in assessing the amount of budget allocated

to marketing programs. This study guides management of the organisation to verify the

return on investment of a rebranding exercise to the company bottom-line and brand equity.

It further assists in decision making with regards to future rebranding programs.

1.5.3 Commercial banks

The study assists other players in the industry have a better understanding of their target

audience and the factors that influence their decision when choosing a bank. It also acts as

a guide when making a decision on whether or not to undertake a rebranding exercise based

on the findings of this study, other financial institutions can predict customer behaviour and

the impact to their bottom-line.

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1.5.4 Academicians and Researchers

The study is essential to researchers, academicians and scholars understanding the value of

rebranding from the vantage point of the consumers. Academicians and researcher can use

the study to do secondary research and further the knowledge on the subject.

1.6 Scope of the Study

The study targeted consumers who purchased the banks financial products and who visited

Sidian bank branches. The population of study was customers visiting Sidian bank branches

in Nairobi. The time scope was January 2018. The limitations of the study was unresponsive

customers due to use of technical terms, this was mitigated by use of simple easy to

understand language on research tools.

1.7. Definition of Terms

1.7.1 Brand

Kotler and Keller (2012) defined a brand as a name, term, sign, symbol, design or a

combination of these that identifies the makers or seller of the product or services.

1.7.2 Branding

According to Einarsen (2013) branding is the expression of the essential truth or value of

an organisation, product or service. It is communication of characteristics, values and

attributes that clarify what this particular brand is and is not.

1.7.3 Consumer behaviour

Consumer behaviour is the study of individuals, and the processes they use to select, secure,

and dispose of products to satisfy needs and the impacts that these processes have on the

consumer and society (Schiffman & Kanuk, 2009).

1.7.4 Consumer perception

Perception in marketing is described as a process by which a consumer identifies, organises

and interprets information to create meaning (Schiffman & Kanuk, 2009).

8

1.7.5 Rebranding

According to Moore and Pareek (2010) rebranding refers to the repositioning, revitalizing,

or rejuvenating of a brand.

1.8 Chapter Summary

This chapter covered the background of the study, the statement of the problem, the general

objective of the study, the specific objective of the study, significance of the study, scope

of the study and definition of terms used in the study.

The following chapter addresses the literature review of the study from different

academicians on the specific objectives of the study. Chapter three addresses the research

methodology applied in this study, chapter four focuses on the analysis and findings, the

final chapter presents the summary, conclusions and recommendations relative to the

effects of rebranding on customer perception.

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CHAPTER TWO

2.0 LITERATURE REVIEW

2.1 Introduction

The purpose of this chapter was to analyse research conducted and written by other scholars

in the area of study with the intention of reviewing and understanding the effect rebranding

has on consumer perception. The chapter examined this through the specific objectives

highlighted in chapter one.

2.2 The Effect of Corporate Identity Change on Consumer’s Perception

According to Argenti (2007) corporate identity is the visual manifestation of the company

reality as conveyed through the organisation name, logo, motto, products, services,

buildings, stationery, uniform and all other tangible pieces of evidence created by the

organisation and communicated to a variety of consistencies.

2.2.1 Brand Name

It is critical for a company to choose a good corporate name or brand name since the brand

name is a part of the actual product (Kohli & LeBahn, 1995). Marketers devote a great deal

of effort, time, and money to developing suitable brand names. Brand names should sound

attractive, convey the key benefits of the brand, and preferably fulfil the polyglot demands

of a global market (Aaker, 1996). Brand names carry meaning, and they do elicit

associations and images, and choosing a brand name has been suggested as an important

means towards building brand equity (Lerman & Garbarino, 2002).

Creating an effective brand name, however, is a challenging task. Brand names help



(Levy, 1978). Therefore, according to Kohli and LeBahn (1995) a new brand name should







10

A brand name change, product name change can be done because of mergers which allow

the company to enter global markets, and seek more profits. It can also aim to renew its

product image so that it conveys a new message, and clarify the company’s positioning to

its consumers (Derexel & Gerlica, 2014). If not studied enough, this opportunity to earn

more money thanks to the changing name, can turn into a disaster. A company must take

into account the consumer’s point of view about the change. If the change it too brutal,

consumers may lose their faithfulness towards the brand or product and because of this,

they can even stop buying the product itself (Derexel & Gerlica, 2014).

Warell (2001) affirms that people have strong connections to brands and brand name. Brand

name influences the customer decision in car choice. When people intend to purchase a car,

they have many brand names to choose from, but usually people purchase a car with

preference to brand name and company reputation in market because of trust and previous

experience. Robertson (2007) in his supports choosing the proper brand name is often the

centrepiece of introductory marketing programs can enhance brand awareness and help

create a favourable brand image for a newly introduced product. Recognizing the important

and complex role of brand names as part of marketing strategy, several different possible

criteria have been proposed for choosing brand names to build brand equity.

2.2.2 Design

The American Marketing Association (2014) defines a brand as “a name, term, symbol,

design or a combination of them intended to identify goods and services of one seller or a

group of sellers and to differentiate them from those of competitors p, 123”. This definition

focuses on the firm’s input activity of differentiating by means of name and visual identity

devices (Schultz & Chernatony, 2002).

A possible characterisation of rebranding is therefore the creation of a new name, term,

symbol, design or a combination of them for an established brand with the intention of

developing a differentiated (new) position in the mind of stakeholders and competitor

(Muzellac & Lambkin, 2006). Familiarity supposedly breeds contempt. While this may be

true in certain contexts, in business the unfamiliar is usually most in danger of being

rebuked. Therefore, changing identity can obviously alienate customers who feel loyal to a

brand they are accustomed to (Kaikati, 2003).

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Corporate managers should ascertain what the customers think before deciding to rebrand

a product or even to tweak its logo and look (Kaikati & Kaikati, 2003). Rebranding blindly

may be not only costly but counterproductive. A company needs to identify its reasons and

objectives concisely. Multinationals may decide to merge multiple regional brands under

one international brand if it becomes too cumbersome and confusing to manage them

autonomously. An amalgamated global brand tends to create cost savings by eliminating

duplication of design, production, distribution and promotion. Familiarity supposedly

breeds contempt. While this may be true in certain contexts, in business the unfamiliar is

usually most in danger of being rebuked. Therefore, changing identity can obviously

alienate customers who feel loyal to a brand they are accustomed to (Kaikati, 2003).

In the highly competitive food retail industry, design is a strategic device (Kotler, 2013).

Packaging design is used as a strategic tool for differentiation and increasing brand equity

(Vazquez, Bruce and Studd, 2003). According to Vazquez et al. (2003) the pack is the

physical personification of the brand core values establishing the personality of the brand,

and the brand identity. The impression the pack has on consumers is essential in the process

of building relationships between the brand and the consumer. Dichter (1957) refers to the

pack as the silent salesman; it’s crucial for the pack to come alive at the point of sale, so as

to represent the salesman. Packaging plays the role of a “sales clincher”, to encourage

impulse purchase. It is therefore important to incorporate emotional values in packing

design in competitive markets.

Design should produce an environment where the consumer is encouraged to lower their

psychological defences and develop an interest in the products as cited by Vazquez et al.

(2003). Keller (2012) proposes that design assists consumers make brands associations,

which cumulates to a positive overall brand perception. Design plays a fundamental role in

communicating product benefits to the consumer with product benefits being the personal

value that customers attach to the products (Vazquez et al., 2003).

2.2.3 Colour

Colour which is assumed to be more vivid than black and white, attracts attention and can

provide information, as we will see shortly (Meyers-Levy & Peracchio, 1995). A product

must be able to stand out from the clutter of something brands in order to succeed and

colour has a great capacity to attract the need attention (Bone & France, 2001). However,

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colour can also attract attention to irrelevant data at the expense of more important and

diagnostic information in a situation when colourful graphics use consumers’ resources that

might better be used in examining the verbal component of the package label, leading to an

incorrect conclusion on the product (Bone & France, 2001).

According to Kaikati and Kaikati (2003) colours can provide a facelift to aging logos.

Colours have different meanings in different cultures. Colour associations are influenced

by numerous aspects. In their study it was discovered some colour association they stated

could cross category boundaries they also found that packaging in cold and dark colours

were usually associated with high- prices and refined aesthetics. In contrast, accessible

products that are directed to price sensitive consumer required light, mainly white coloured

packaging, while safe and guaranteed products were associated with red packaging.

According to Azeem (2012) blue is the most common favourite colour and is liked by both

genders. Blue is seen as a trustworthy, peaceful and calm colour and is often related to the

sky or water. It is usually cool and quiet but more electric shades can give a dynamic feel.

Although blue has the benefits of gender indifference and being the most common favourite

colour, the overuse of blue can seem cold or uncaring. Yellow is the most easily noticed, it

grabs attention of a person so can be a good choice for things such as magazine

advertisements which may usually be ignored due to ad blindness (Azeem, 2012). Yellow

signifies happiness, optimism and warmth but also caution. The main advantage of yellow

is its attention grabbing feature so a combination of blue and yellow can be a successful

colour scheme which could create a cool and calm mood from the blue but still draw

attention because of the yellow, (Azeem, 2012).

2.3 The Effect of Repositioning on Consumer’s Perception.

Positioning was entered into marketing language in 1982 by Al Ries and Jack Trout. In

fact, the word was previously used to refer to the product’s physical placement in the shop.

However, they brought up a new understanding of the term: positioning is not something

you do to a product but it is something you do to the mind of potential customers (Ries &

Trout, 1982). Positioning is perceived by some researchers as the last stage, after product

and image stages, in the historical development of marketing communications. According

to this view, the product cycle is more dominant in late 1950’s and early 1960’s, the basic

features of this stage are being less competitive, and each product is seen as almost a

13

discovery. Period of image is known to emerge when “me too” products are developed

against the powerful market-leading brands. These new entrant to the market products

strived to hold the market with their image, the company’s image is placed on focus of

communication efforts (Karadeniz, 2009).

Positioning, especially with the market segment of products, can be defined as placing the

product into the consumers’ reference frame of product category. Repositioning tries to

obtain new positions in the minds of consumers and to move the products into new

positions. Thus, developing superiority over competitors is intended (Karadeniz, 2009).

2.3.1 Brand Image









According to Keller (2008) a brand image is considered to be all about perceptions about a

certain brand which is a reflection of that occur in the mind of a consumer. Aeker (1996)

further argues that such associations make reference to any brand aspect that occur in the

memory of the consumer’s memory. Roy and Banerjee (2007) argues that brand image is a

description of the thoughts and feelings of the consumer towards the brand. Faircloth

(2005) further defines a brand image as the overall mental image which is visible in the

mind of the consumer as well as its uniqueness when compared to other brands.







14




An image which is considered to be favourable is likely to have a positive influence on

when it comes to the behaviour of the consumer towards a particular brand especially when

it comes to matters to do with consumer loyalty and also with regards when it comes to

commanding a price premium and towards the brand in terms of increasing loyalty,

commanding a price premium as well as in the generation of word- of- mouth which is

positive towards that particular brand (Martenson, 2007). Faircloth (2001) established that

brand image has a positive influence on consumer loyalty this is mainly because the more

positive the brand image, the more likely it will be for consumers to willingly pay for that

particular brand (Nguyen & Kleiner, 2003).

Heider (1958) proposed the balance theory; which states that a consumer seeks to preserve

stability among the triad of linked attitudes (Russell & Stern, 2006). A balanced

relationship consist of two people who have a shared attitude towards an object (Heider,

1958). An imbalance in the relationship will cause systematic tension, if the tension

persists, then the individual will attempt to both mentally and physically, decrease tension

by moving towards a balanced state (Homburg & Stock, 2004). A relationship is

imbalanced if there are two people in a relationship with opposing attitudes towards the

object (e.g. A dislikes the object but B likes it) (Homburg & Stock, 2004). Balance theory

is applied to branding as follows; inferior brand image, superior or average brand image

and customers. Based on the balance theory, this system reaches a balanced state if a

customer’s attitude towards a brand with an inferior image changes after purchasing a brand

with a superior or average image, and is similar to customers who have purchased a brand

with a superior or average image (Lee, 2011).

Brand image is an essential factor affecting brand equity (Lee, 2011). Increased loyalty,

price leadership and positive word-of-mouth have been attributed to the positive influence

a favourable brand image has on consumer behaviour (Martenson, 2007). Faircloth (2001)

argues price elasticity increases relative to a positive brand image, leading to greater brand

equity. Successful companies with an inferior brand image merge and acquire companies

with a superior brand image in order to increase their market share (Nguyen & Kleiner,

15

2003). Companies endeavour to change consumer perception of the inferior brand and

maintain their cognitive consistency towards brands with an inferior and superior image,

as per balance theory (Heider, 1958). If consumers have a positive attitude towards the

obtained brand; the stronger the image of a company with an inferior brand, the greater a

company’s brand equity (Lee, 2011).

Repositioning contains communication actions regarding the development of images of the

brands that companies offer. The pre-requisite of creating a successful and a strong brand

is “being different” from competitors (Kotler, 2005). Creating desirable brand image in the

minds of consumers requires a coherent and integrated planning of course; brand

positioning can be described as an effort to create a distinctive merit compatible with brand

identity elements (Karadeniz, 2009). Some brands may need to re-position their market

share, re-creating the brand image may gain new customers but it can also cause the loss of

current customers enjoying your brand with its old image.

2.3.2 Brand Personality

Aaker (1997) describes brand personality as the traits normally associated with humans that

consumer’s project to a brand. The brand personality is viewed as a substantial advertising

device to attract and convert the target audience for the development of brand equity (Tong

& Li, 2013). Pepsi has been portrayed as a fashionable, energetic, and modern young man,

whereas Coca-Cola is a gentle and conservative man (Wang & Yang, 2008).

In an effort to differentiate their products and services from competition, leading brands

spend an immeasurable amount of effort inserting personality into their brands. When

consumers contemplate about an individual brand, human personality traits come to mind,

thus providing a basis for bias and brand differentiation (Wang, 2009). By infusing brands

with human personalities and through purchasing and/or using the brands, consumers can

achieve higher self-esteem.

Brand personality is an important factor for the success of a brand in terms of preference

and choice. Recent research findings also indicate that a strong and positive brand

personality can result in favourable product evaluations such as perceived quality (Wang

& Yang, 2008). Brand personality is positively related to perceived quality; they assess not

only the product, but also brand attributes, such as packaging and style (Ramaseshan &

16

Tsao, 2007). Aaker (1997) identified five dimensions of brand personality as sincerity,

excitement, competence, sophistication and ruggedness.

Brand personality fulfils a multi-faceted function in consumer-organization as well as

within-organization communication tool; it allows an organization to identify consumer’

brand perceptions by its projection techniques with human metaphor (Lee, 2011). Brand

personality helps marketers communicate brand meaning which otherwise might not be

easy to understand and/or share (Lee, 2011). By adding robust, descriptive and realistic

explanations for core yet abstract brand identity, brand personality, makes the brand

meaning understandable and contemporary (Aaker & Joachimsthaler, 2000).

2.3.3 Brand Associations

Brand association is described as that close relationship that customers wants to be

recognised to be consumers of a particular product or service. This occurs when consumers

feel as part of whole large family of consumers of a certain brand (Pappu, 2006).

Brand associations are very crucial when it comes to the process of consumers buying

behaviour given that they help in retrieving information as well as helping to differentiate

or position the brand. This means therefore that in the event that brand associations are

positive, then chances are very high that such an association will make it very much

beneficial to consumer attitudes as well as feelings and therefore provide a reason to buy.

Brand associations may be exploited to create effective brand extensions (Till, 2011). As a

result of their fundamental importance, measurement of brand associations is at the centre

of brand management. One of the very crucial tasks for brand managers is to understand

and manage the set of associations around their brand (Till, 2011).

Brand associations are considered to be very different in three ways; one of the ways is that

associations have different strengths, they have stronger or weaker links to the brand’s node

in the memory, and secondly brand associations are different in terms of favourability given

that they have differences in how their associations are evaluated, whether positive or

negative. Finally, some brand associations are considered more unique than others.

Additionally, having a range of associations for a brand is potentially relevant for

practioners (Krishnan, 1996); the number of brand associations has been found to influence

17

brand awareness and may also influence the effectiveness of advertising activities

(Krishnan, 1996).

2.4 The Effects of Perceived Quality on Consumer’s Perception

Marketing strives to proudly understand the customer to develop a product or service which

the customer will want. Once that information is gathered, that information is transferred

to the business, which in turn produces a product according to those specifications. Once a

product has been created, the marketing department is responsible for communicating to

the consumer the benefits of the products, and the points out how their product differs from

the competition (Moore & Pareek, 2010).

Marketing management is the art and science of choosing target markets and getting,

keeping and growing customers through creating, delivering and communicating superior

customer value (Kotler & Keller, 2012). Customer orientation is concerned with creating

superior value by continuously developing and redeveloping product and service offerings

to meet customer needs. To do so we must measure customer satisfaction on a continuous

basis (Baines, 2011). As defined by Kotler and Keller (2012) consumer markets companies

selling mass consumers and services such as juices, cosmetics, athletic shoes, and air travel

spend a great deal of time establishing a strong brand image by developing a superior

product and packaging, ensuring its availability, and backing it with engaging

communications and reliable service.

Perceived quality is defined as a buyer’s evaluation of a product’s cumulative excellence

(Zeithaml, 1988). Perceived quality refers to a customer’s intangible perception of the

whole quality or superiority of a product or service- their overall feeling about the brand

(Ramaseshan & Tsao, 2007). Information intrinsic cues like brand features and other

extrinsic cues such as brand image, country-of-origin image, brand name, price or the

amount that advertising can influence perceived quality (Speece & Nguyen, 2005).

A brand which is usually associated with quality can create an image in the consumer’s

mind and can be motivation to buy a particular product (Vranesevic & Seancec, 2003).

Hankinson (2005) investigated the brand image of a travel destination from the perspective

of a tourist and identified three dimensions: overall attractiveness of the destination,

functionality and ambience. All three dimensions were correlated to perceived quality.

18

According to Lee (2011) a consumer’s perceived quality of a brand with a negative image

will improve after it merges with a brand with a positive image, and vice versa. In addition,

superiority of the brand image they acquire is correlated to the perceived quality of the

brand.

For customers the quality of the brand is an important aspect when forming a perception

about the brand. The customer evaluates the brand according to his perceptions of quality

which is sometimes more difficult than actually delivering high quality (Arslan & Altuna,

2010). Customers who have strong attitudes about the quality of a brand tend to transfer

these positive attitudes to the brand extensions. Consumers’ acceptance of the extension

increases if the parent brand is perceived to be of high quality and therefore, perceived

quality of the brand highly impacts the image of the extension. Hence the perceived quality

of the brand will positively affect the product brand image.

Consumers often judge the quality of a product on the basis of a variety of informational

uses, both intrinsic, such as specific product characteristics, and the extrinsic to the product,

such as price or image. Either singly or in composite, such cues provide the basis of product

quality (Schiffman & Kanuk, 1991).

Zeithaml (2000) states that the extensive literature and emphasis on actual quality seems to

have conspired against what we describe as the neglected frontier of quality: an outside-in

perspective driven through the customer-centric perception of quality by intrinsically

dealing with the voice of the customer. The customers’ perception element of quality has

its own distinct definition and form of measurement. It carries subjectivity, and is the level

of perceived value reported by the customer who benefits from a process or its outcome.

Indeed, the belief that high perceived quality leads to repeated purchases is the foundation

of any business. Generating high quality requires an understanding of what quality means

to customer segments, as well as a supportive culture and a quality improvement process

that will enable the organization to deliver quality products and services (Zeithaml, 2000).

2.4.1 Perceived Quality and Customer Satisfaction

According to Zeithaml (1996) perceived quality may differ from actual quality for a variety

of reasons. First, consumers may be overly influenced by a previous image of poor quality.

They may not believe new claims, or they may not be willing to take the time to verify

19

them. Thus it is critical to protect a brand from gaining a reputation for shoddy quality from

which recovery is difficult and sometimes impossible. Second, a company may be

achieving quality on a dimension that consumers do not consider important.

In the ever increasing competitive market place marketers of fast moving consumer goods

need to differentiate their products from those of competitors in a pursuit to meet

customer’s functional and emotional needs. Product differentiation as defined by Trout

(2009) is the values owned by a product, real or perceived, rational or emotional, and the

real place they occupy in the consumers’ mind beyond the consumer just being aware of

them. And the degree to which they possess these values and have meaning in the

consumers’ lives (beyond primacy of product) determines whether they have differentiated

themselves.

There is a need to make sure that investments in quality occur in areas that will resonate

with customers. Third, consumers rarely have all the information necessary to make a

rational and objective judgment on quality and even if they do have the information, they

may lack the time and motivation to process it. As a result, they rely on the influencing

perceived quality where understanding and managing these cues properly are key. Thus, it

is important to understand the little things that consumers use as the basis for making a

judgment of quality (Zeithaml, 1996).

2.4.2 Perceived Quality and Quality Cues

Perceived service quality and quality cues have a very essential role to play on the mind of

the consumer. This is because understanding of the quality perception process requisite of

the knowledge of the cues that are adopted by the consumer when it comes to alternative

quality evaluation. According to Olson and Jacoby (1972) there are intrinsic and extrinsic

cues that exist in nature. Extrinsic cues are considered to be product related that are different

from the physical product. On the other hand intrinsic cues are considered to be product

attributes that are not likely to be changed without changing the physical characteristics of

the product itself.

According to Einarsen (2013) branding is the expression of the essential truth or value of

an organisation, product or service. It is communication of characteristics, values and

attributes that clarify what this particular brand is and is not. Branding is not a push strategy

20

but a pull strategy. A brand will help encourage someone to buy a product, and it directly

supports whatever marketing activities in play, but the brand does not explicitly say “buy

me”. Instead, it says “This is what I am. This is why I exist. If you agree, if you like me,

you can buy me, support me, and recommend me to your friends.”


















Pareek, 2010). Rebranding refers to the repositioning, revitalizing, or rejuvenating of a

brand. Delattre (2002) analyses four categories of reasons to rebrand as follows: new

corporate image, new management or shareholding structure, new activity, and change of

legal status.

Intrinsic cues bear higher predictive value and are better influencers in judging quality than

extrinsic cues in different product categories. Intrinsic cues are typically given more

importance until they are insufficiently predictive in the consumers’ minds or the

consumers have little confidence in their ability to evaluate and assess those cues. Most of

the utilitarian products, firms have made extensive use of intrinsic cues and provided

21

differentiated products by targeting those market segments which highly value the

respective cues (Dimara, 2001).

Olsen (2011) analysed consumers’ liking of private labels based on comparing intrinsic and

extrinsic orange juice cues against national brands. It was discovered that intrinsic cues are

mainly responsible for developing consumer’s perception about variation in quality, while

extrinsic cues are playing minor roles. Price, brand name, retailer reputation, and level of

advertising were four major extrinsic cues frequently associated with perceived quality and

value usage (Sanyal & Datta, 2011). Despite their lack of any significant influence on

product quality, a number of extrinsic cues have been found to remarkably moderate

consumer perceptions of products performance and quality; these include price, brand,

retail outlet and country of origin (Veale & Quester, 2009).

2.4.3 Service Quality

Parasuraman (1988) defines service quality as the discrepancy between a customers’

expectation of a service and the customers’ perception of the service offering. Parasuraman

(1985) proposed that customer’s perception of service quality is based on the comparison

of their expectations, what they feel service providers should offer, with their perceptions

of the performance of the service provider. Parasuraman et al, (1988) point out that

expectations is viewed differently in both satisfaction literature and service quality

literature. In satisfaction literature, expectations are considered as ‘predictions’ by

customers about what is likely to happen during a particular transaction while in service

quality literature, they are viewed as desires or wants of consumers, that is, what they feels

a service provider ‘should’ offer rather than ‘would’ offer. Perceptions of customers are

based solely on what they receive from the service encounter (Douglas & Connor, 2003).

Parasuraman (1985) identified 10 determinants used in evaluating service quality;

reliability, responsiveness, competence, access, courtesy, communication, credibility,

security, understanding the customer, and the tangibles. Most of these determinants of

service quality require the consumer to have had some experience in order to evaluate their

level of service quality ranging from ideal quality to completely unacceptable quality.

Customers further linked service quality to satisfaction by pointing out that when expected

service is greater than perceive service, perceived quality is less than satisfactory and will

tend towards totally unacceptable quality; when expected service equals perceived service,

22

perceived quality is satisfactory; when expected service is less than perceived service,

perceived quality is more than satisfactory and will tend towards ideal quality

(Parasuraman, 1985).

Parasuraman (1988) developed the SERVQUAL model which is a multi-item scale

developed to assess customer perceptions of service quality in service and retail businesses.

The scale examines service quality into five constructs as follows: tangibles, reliability,

responsiveness, assurance and empathy. It centres on capturing the gap between customers’

expectations and experience which could be negative or positive if the expectation is higher

than the experience or expectation is less than or equal to experience respectively.

Tangibility relates to the physical facilities, equipment and appearance of personnel,

reliability relays to the ability to perform the promised service dependably and accurately,

responsiveness relates to the willingness to help customers and provide prompt service,

assurance relates to knowledge and courtesy of employees and their ability to inspire trust

and confidence and empathy relates to the caring individualised attention the firm provides

to its customers.

2.5 Chapter Summary

The purpose of this chapter was to analyse research conducted and written by other scholars

in the area of study, with the intention of reviewing and understanding the depth of

rebranding regionally and internationally. The chapter examined this through the specific

objectives highlighted in chapter one. This chapter covered literature review on the three

research objectives of the study. The next chapter addresses the research design and

explains how data was collected, analysed and presented.

23

CHAPTER THREE

3.0 RESEARCH METHODOLOGY

3.1 Introduction

This chapter reviews the research methodology that was adopted in the process of putting

together this research. The chapter covered the following areas in research methodology:

research design, population and sampling design, data collection methods, research

procedures and data analysis methods.

3.2 Research Design

Research design refers to the logical structure of the inquiry. It articulates what data is

required, from whom, and how it is going to answer the research question. Research design

deals with a logical problem and not a logistical problem (Yin, 2009). The design of this

study was descriptive survey. Descriptive research was an effective way to obtain

information used in devising hypotheses and proposing associations (Monsen & Horn,

2008). Through this design it was possible to make estimates on how the independent

variable, rebranding of K-Rep Bank to Sidian Bank, has impacted the dependent variable,

consumers’ perception of the brand by disseminating surveys. Taylor (2009) states that

dependent variables is the output of a process or statistical analysis whereas the independent

variable is an output to a process or analysis that influences the dependent variable.

3.3 Population and Sampling Design

3.3.1 Population

Population is the total collection of elements that the research focuses upon and to which

the results obtained by testing the sample should be generalised (Bless, Smith & Kagee,

2007). The population of this study comprised of customers with personal and/or business

accounts at Sidian Bank branches in Nairobi Central Business District. For the purposes of

this study, working class individuals were selected. Sidian Bank had a market share of 0.4%

as reported by Fortune of Africa (2017) totalling to 270,700 customers in Nairobi.

3.3.2 Sampling Design

3.3.2.1 Sampling Frame

This is the list of all units from which the sample is to be drawn. An adequate sampling

frame should exclude no element of the population under investigation (Blesset, 2007). The

24

research was conducted on working class bank customers aged between 25-54 years old,

who bank in branches in Nairobi Central Business District. The list of the customers were

sourced from branch managers in Sidian Nairobi branch offices.

3.3.2.2 Sampling Technique

Probability sampling technique utilizes some form of random selection (Babbie, 2013) this

technique was used to sample Sidian bank branches in Nairobi Central Business District.

Systematic sampling was then applied by selecting every 4th customer visiting the bank

branch as the study was only interested in Sidian Bank customers. This technique ensured

the researcher had a fair and representative view of the population and the selection of

respondents had the requisite information to address the specific research questions thereby

enhancing the credibility and reliability of the findings of the study.

3.3.2.3 Sample Size

Sample size was determined by specifying in advance the maximum permitted sampling

error that should be allowed to occur in the sample. Using the America Marketing

Association (2016) sample size formula:

SS= Z2* (p)* (1-p)

C2

Where:

Z= Z value (e.g. 1.96 for 95% confidence level)

P= Percentage picking a choice, expressed as decimal

(.5 used for sample size needed)

c= confidence interval, expressed as decimal) e.g. 04=±4

Thus, sample size was as follows:

Z=1.96

P=0.5

C=±10.9

The sample size was 80 consumers.

25

3.4 Data Collection Methods

A questionnaire was used to collect primary data. The questionnaire addressed the three

research objectives; it was sub-divided into two sections. The first section of the

questionnaire enquired general information about the respondents, while the second section

sought to answer how rebranding impacts consumer perception in the respective sub-

sections. The qualitative section of the questionnaire used closed questions. The

quantitative section of the questionnaire used both nominal and Likert type scale format to

determine each of the variables. A five point Likert scale ranging from one to five was used

to answer statement like questions. The Likert-type format was selected as it yields equal-

interval data, a fact that allows for the use of more powerful statistical data to test the

hypotheses (Kiess & Bloomquist, 2008).

3.5 Research Procedures

A pilot study was conducted using the above discussed questionnaire to a sample audience

of five who were acceptable as per the sampling frame. The sample audience was

comprised of peers and subject experts. The purpose of the pilot exercise was to ascertain

any struggles the respondents might have answering the instrument, the ease with which

respondents understand the questions and test the response time in order to review the

instrument before it was administered. The only concern highlighted during the piloting

test was use of marketing jargon, this was solved by selecting general marketing terms that

were easily understood.

The questionnaire was administered to Sidian bank customers by the research assistant so

as to attain more information and also acquire clarity of information received from the

respondents. The researcher contacted the respondents; gave them the questionnaire to

complete as they wait. The questionnaires were administered on the first week of the month

when most customers visit the bank in order to withdraw cash either from their salary or

business accounts. To certify the quality of the data collected was up to par, the

questionnaires were reviewed for completeness, to guarantee all answers were clearly

written, check if the answers were consistent and confirm that all figures were tallied

correctly.

26

3.6 Data Analysis Methods

This section reviews the techniques that were used to analyse the data and test the variables.

The study made use of both qualitative and quantitative data that was analysed based on

the content matter of the responses. The data collected from the questionnaires was first

edited and transformed into quantitative form through coding, it was then entered into

Statistical Packages for Social Scientists (SPSS Version 20.0) and analysed using

descriptive statistics. The data was then presented in tables and graphs with the explanation

presented in prose. Descriptive statistics used absolute and relative percentages

frequencies, measures of central tendency and dispersion (mean and standard deviation).

Inferential statistics technique used estimating parameters and regression analysis.

3.7 Chapter Summary

This chapter covered the following areas in research methodology: research design,

population and sampling design, data collection methods, research procedures and data

analysis methods. It outlined the various approaches and processes adopted in conducting

the study in order to answer the research questions outlined in the first chapter. The next

chapter focuses on the results and findings based on the data collected.

27

CHAPTER FOUR

4.0 RESULTS AND FINDINGS

4.1 Introduction

This chapter focuses on presentation of findings from the study. The first portion

concentrates on background information of the respondents followed by findings on the

effect of corporate identity change on customer perception followed by findings on the

effect of repositioning on customer perception and thereafter findings on the effect on

perceived quality on customer perception. A total of 50 questionnaires were returned out

of 80 indicating 63 percent response rate. Mugenda and Mugenda (1999) highlighted that

a response of 50% and above is viable for statistical reporting.

4.2 Background Information

This subsection of the study focused on the general information of the study with regards

to the respondents’ gender, occupation, level of income, age, as well as area of operation

relationship with the bank.

4.2.1 Gender of the Respondents

Table 4.1 shows that the majority of the respondents were male respondents while the

female respondents were the minority. The study results show that 62% of the respondents

were men while 38% were female. These results indicate that the study was consistent with

the 30% gender inclusivity as per the Constitution of Kenya.

Table 4.1: Gender of the Respondents

Gender

Distribution

Frequency Percentage

Male 31 62

Female 19 38

Total 50 100

4.2.2 Age of the Respondents

Table 4.2 reveals the majority (42%) of the respondents were between the ages of 32-38

years. They were followed by those with the age ranging between 25-31 years at 26%,

28

thereafter 24% of the respondents were of the age 38-45 years while 4% were the age 18-

24 and 46-52 years respectively.

Table 4.2: Age of the Respondents

Age

Distribution


18-24 2 4

25-31 13 26

32-38 21 42

38-45 12 24

46-52 2 4

Total 50 100

4.2.3 Level of Income

The researcher sought to find out the income distribution of Sidian bank customers. Table

4.3 reveals that 10% of the respondents earn 0-49,999 shillings, 56% earn 50,000-99,999

shillings as 26% earn 100,000-149,999 shillings, 4% earn 150,000- 199,000 as 4% earn

200,000 or higher.

Table 4.3: Level of Income

Level of Income

Distribution


0-49,999 5 10

50,000-99,999 28 56

100,000-149,999 13 26

150,000- 199,000 2 4

200,000 or higher 2 4

Total 50 100

29

4.3 Corporate Identity and Customer Perception

The first objective of the study was to evaluate the effect of corporate identity change on

customer perception. This subsection looks at how corporate identity influences perception.

4.3.1 Customers Ability to Identify Bank

The researcher sought to find out the ease with which customers were able to identify the

bank. Figure 4.1, shows that 29% strongly agree, 62% agree , 4% are neutral, 2% disagree

while 3% strongly disagree that customers can now identify the bank easier than before.

Figure 4.1: Customers Ability to Identify Bank

4.3.2 Customer Ability to Recall new Brand Name

The researcher sought to find out how easy it was for customers to recall the new brand

name compared to the previous brand name. Figure 4.2 reveals that 25% strongly agree,

49% agree, 5% are neutral, 9% disagree while 12% strongly disagree that customers can

now identify the bank easier than before.

30

Figure 4.2: Customer Ability to Recall new Brand Name

4.3.3 Customers Preference of Brand Name

The researcher sought to find out if customers preferred the new brand name compared to

the previous brand name. Figure 4.3 reveals that 33% strongly agree, 47% agree, 12% are

neutral, 0% disagree while 3% strongly disagree that customers prefer current brands than

before.

Figure 4.3: Customers Preference of Brand Name

4.3.4 Perception on Attractiveness of New Design

The researcher sought to find out how the new design affected the perception of the new

brand. Figure 4.4 reveals that 27% strongly agree, 55% agree, 4% are neutral, 4% disagree

while 10% strongly disagree that the new design is more attractive than the previous one

31

Figure 4.4: Perception on Attractiveness of New Design

4.3.5 New Design and Product Interest

The researcher sought to find if the new design had sparked new interest in the bank and

its products. Figure 4.5 reveals that 31% strongly agree, 62% agree, 3% are neutral, 4%

disagree while 2% strongly disagree that the new design is more attractive than the previous

one new design has sparked my interest in their products.

Figure 4.5: New Design and Product Interest

For instance 91% of the respondents agreed that they can identify the bank easier than

before while 74% agreed that they easily recall the new brand name than before as 80%

were in agreement that they prefer the current brand name than the previous name with

82% of the respondents agreeing that the new design layout is more attractive than the

previous one while 76% of the respondents agreed that the new design has sparked their

interest in their products while 87% agreed that they prefer the new brand colors than the

32

previous color and finally 90% of the respondents agreed that they can identify the new

colors with a commercial bank and not a micro-finance institution.

Table 4.4: Corporate Identity and Customer Perception

Statement

Str

on

gly

Dis

agre

e

Dis

agre

e

Neu

tral

Agre

e

Str

on

gly

Agre

e

1. I can identify the bank easier than before 3% 2% 4% 62% 29%

2. I easily recall the new brand name than

before

12% 9% 5% 49% 25%

3. I prefer the current brand name than the

previous name

3% 12% 47% 33%

4. The new design layout is more attractive than

the previous one

10% 4% 4% 55% 27%

5. The new design has sparked my interest in

their products

2% 4% 3% 62% 31%

I prefer new logo over the previous one 12% 9% 3% 55% 21%

6. I prefer the new brand colors than the

previous color

5% 3% 5% 58% 29%

7. I can identify the new colors with a

commercial bank and not a micro-finance

institution

2% 6% 2% 57% 33%

Table 4.5: Corporate Identity and Customer Perception

Table 4.5 further presented regression results which showed that the relationship between

corporate identity and customer perception.

Model R R Square Adjusted R Square Std. Error of the

Estimate

1 .593 .587 .501 .2751211

a. Predictors: (Constant), Corporate Identity

As seen in the model summary table the R square value was 0.587 indicating that 58.7

percent of customer perception was as a result of corporate identity. Table 4.6 further

presents the coefficients table. The study revealed that there was a significant relationship

between corporate identity and customer perception with a beta coefficient of 0.531.

33

Table 4.6: Relationship between Corporate Identity and Customer Perception

Coefficients

Model Unstandardized Coefficients Standardized

Coefficients

T Sig.

B Std. Error Beta

1

(Constant) 2.038 .196 10.207 .000

Corporate

Identity .531 .3182 .627 10.221 .000

a. Dependent Variable: Customer Perception

4.4 Repositioning and Customer Perception

The second objective of the study was to examine the effect of repositioning on customer

perception. This subsection looks at how repositioning of Sidian bank influences

perception.

4.4.1 Brand Repositioning

The researcher sought to find if repositioning can influence customer perception. Table 4.7

shows that majority of the respondents were in agreement with all the aspect of

repositioning that influence customer perception. Specifically 82% of the respondents

agreed that they like the new brand communication 70% agreed that they prefer the new

communication from the brand than previous communication as 62% agreed that new

communication is distinct from other banks while 76% agreed that they talk more positively

about the new brand than the previous, 64% of the respondents agreed that the new brand

is modern and competent compared to the previous one.

Table 4.7: Repositioning and Customer Perception

Statement

Str

on

gly

Dis

agre

e

Dis

agre

e

Neu

tral

Agre

e

Str

on

gly

Agre

e

I like the new brand communication 8% 8% 2% 26% 56%

8. I prefer the new communication from the

brand than previous communication

20% 8% 2% 22% 48%

The new communication is distinct from

other banks

20% 6% 12% 28% 34%

I talk more positively about the new brand

than the previous

9% 6% 9% 24% 52%

9. The new brand is modern and competent

compared to the previous

4% 30% 6% 6% 58%

34

4.4.2 Positioning and Customer Attitude

The researcher sought to find if positioning can influence the customer’s attitude towards

the new brand. Table 4.8 shows that 78% of the respondents agree that they would be

willing to pay a premium price for products with the new brand than previous, on the other

hand 85% of the respondents agreed that they like being associated with the new brand

more than the previous 86% of the respondents agreed that they like the new position of

the brand as 78% of the respondents agree the position of the new brand is better than the

previous as 80% the new position of the brand is on the same level as market leaders and

75% of the respondents agreed the new position is more favorable than the previous. Finally

56% agreed that have a more positive attitude about the new position than previous.

Table 4.8: Positioning and Customer Attitude

Statement S

tron

gly

Dis

agre

e

Dis

agre

e

Neu

tral

Agre

e

Str

on

gly

Agre

e

I would be willing to pay a premium price for

products with the new brand than previous

8% 12% 2% 30% 48%

I like being associated with the new brand

more than the previous

6% 4% 5% 54% 31%

I like the new position of the brand 8% 4% 2% 41% 45%

The position of the new brand is better than

the previous

5% 10% 7% 50% 28%

The new position of the brand is on the same

level as market leaders

8% 2% 10% 48% 32%

The new position is more favorable than the

previous

5% 10% 10% 39% 36%

I have a more positive attitude about the new

position than previous

28% 6% 10% 53% 3%

Table 4.9 further presented regression results which showed that the relationship between

repositioning and customer perception.

Table 4.9: Repositioning and Customer Perception


Estimate

1 .619 .599 .546 .26314

a. Predictors: (Constant), Repositioning

35

As seen in the model summary table the R square value was 0.619 indicating that 61.9

percent of customer perception was as a result of repositioning. Table 4.9 further presents

the coefficients table. The study revealed that there was a significant relationship between

repositioning and customer perception with a beta coefficient of 0.574.

Table 4.10: Relationship between Repositioning and Customer Perception

Coefficientsa


Coefficients

T Sig.

B Std. Error Beta

1

(Constant) 2.009 .194 10.207 .000

Repositioning .574 .3006 .584 10.221 .000


4.5 Perceived Quality and Customer Perception

The third objective of the study was to examine the effect of perceived quality on customer

perception. This subsection looks at how perceived quality of Sidian bank influences

perception.

4.5.1 Perceived Quality and Customer Perception

The researcher sought to find if perceived service quality can influence customer

perception. Table 4.11 reveals that majority of the respondents were in agreement with the

various aspects of perceived service quality and how they influence customer perception.

Specifically 85% agreed that they expect better service quality from the new bank of the

brand, 75% agreed that they prefer the services from the new bank more than previous,

59% agreed that the new bank is more dependable than previous, 85% agreed that they

prefer the reputation of the new bank than previous, 86% agreed that the new bank

demonstrates adherence to customer financial safety and quality measures than previous,

57% agreed that the new bank has up-to-date equipment compared to previous, 61% agreed

that employees are well dressed and appear neater compared to previous, % agreed that the

physical environment of the new bank is clean compared to previous.

36

Table 4.11: Perceived Quality and Customer Perception

Statement

Str

on

gly

Dis

agre

e

Dis

agre

e

Neu

tral

Agre

e

Str

on

gly

Agre

e

I expect better service quality from the new bank of the

brand

6% 7% 2% 51% 34%

I prefer the services from the new bank more than

previous

15% 4% 6% 35% 40%

The new bank is more dependable than previous 10% 28% 3% 53% 6%

I prefer the reputation of the new bank than previous 10% 1% 4% 52% 33%

The new bank demonstrates adherence to customer

financial safety and quality measures than previous

9% 4% 1% 40% 46%

The new bank has up-to-date equipment compared to

previous

5% 10% 28% 50% 7%

Employees are well dressed and appear neater

compared to previous

9% 6% 24% 52% 9%

The physical environment of the new bank is clean


4% 28% 6% 56% 6%

4.5.2 Perceived Quality on Customer Behavior

The researcher sought to find if perceived quality service can influence customer behavior.

Table 4.12 reveals that 70% agreed that the new bank performs the service right the first

time compared to previous, 64% agreed that the new bank keeps their records accurately

compared to previous, 65% agreed that employees of the new bank are never too busy to

respond to customers’ requests compared to previous, 60% agreed that employees of the

new bank are always willing to help customers compared to previous, 60% agreed that they

feel safe in their transactions with employees at the new bank compared to previous, 62%

agreed that employees at new bank are more polite with customers compared to previous,

and finally 66% agreed that employees at new bank give customers personal service.

37

Table 4.12: Perceived Quality on Customer Behavior

The new bank performs the service right the first

time compared to previous

10% 10% 10

%

40% 30%

The new bank keeps their records accurately


5% 10% 21

%

59% 5%

Employees of the new bank are never too busy to

respond to customers’ requests compared to

previous

5% 4% 26

%

59% 6%

Employees of the new bank are always willing to

help customers compared to previous

10% 6% 24

%

56% 4%

I feel safe in my transactions with employees at the

new bank compared to previous

4% 30% 6% 36% 24%

Employees at new bank are more polite with

customers compared to previous

5% 5% 28

%

50% 12%

Employees at new bank give customers personal

service

10% 18% 6% 50% 16%

Table 4.13 further presents the model summary on the relationship between perceived

service quality and customer perception. As seen in the model summary table the R square

value was 0.483 indicating that 48.3 percent of customer perception was as a result of

perceived service quality.

Table 4.13: Model Summary for Perceived Quality and Customer Perception


Estimate

1 .507 .499 .483 .1154789

a. Predictors: (Constant), Perceived Quality on Customer Behavior

Table 4.14 further presents the coefficients table. The study revealed that there was a

significant relationship between perceived quality and perception with a beta coefficient of

0.421.

38

Table 4.14: Relationship between Perceived Quality and Customer Perception


Coefficients

T Sig.

B Std. Error Beta

1

(Constant) 2.571 .233 10.017 .000

Perceived

Quality .421 .034 .443 10.324 .000


4.6 Chapter Summary

This chapter focused on the presentation of findings from the data analysis. The background

information of the respondents was presented first followed by findings on the effect of

corporate identity change on customer perception followed by findings on the effect of

repositioning on customer perception and thereafter findings on the effect on perceived

quality on customer perception. The next chapter presents a summary of findings,

discussions, conclusions and recommendations.

39

CHAPTER FIVE

5.0 DISCUSSION, CONCLUSION AND RECOMMENDATIONS

5.1 Introduction

This chapter presents a detailed summary and discussions of the key findings, conclusions

drawn based on the findings and recommendations from the study. These were all in line

with the three research objectives. The chapter also discusses the need and areas for further

research owing to the limitations of the study.

5.2 Summary

The general objective of the study was evaluating the effects of rebranding on customer

perception. The study was guided by the following objectives: To evaluate the effect of

corporate identity change on customer perception, to examine the effect of repositioning

on customer perception and to determine the effect on perceived quality on customer

perception.

In this study descriptive research design was applied, which sought to retrospectively

collect data conducted on representative samples of a population. Descriptive studies

sought to answer questions of who, what, when, where and how in a given topic. The

population of this study consisted of all Sidian bank customers in Nairobi. Systematic

sampling was be applied by selecting every 4th customer visiting the bank branch as the

study is only interested with customers of Sidian Bank. For purposes of this study, the data

collection was carried out through questionnaires. Research assistants were engaged to help

in distributing the questionnaires to the respondents. The collected data was analysed using

descriptive statistics as well as regression analysis and it was presented in tables.

The study revealed that there was a significant relationship between corporate identity and

customer perception with a beta coefficient of 0.531. For instance 91% of the respondents

agreed that they can identify the bank easier than before while 74% agreed that they easily

recall the new brand name than before as 80% were in agreement that they prefer the current

brand name than the previous name with 82% of the respondents agreeing that the new

design layout is more attractive than the previous one while 76% of the respondents agreed

that the new design has sparked their interest in their products while 87% agreed that they

prefer the new brand colors than the previous color and finally 90% of the respondents

40

agreed that they can identify the new colors with a commercial bank and not a micro-

finance institution.

The study further revealed that there was a significant relationship between repositioning

and customer perception with a beta coefficient of 0.574. Majority of the respondents were

in agreement with the various aspects of perceived service quality and how they influence

customer perception. Specifically 85% agreed that they expect better service quality from

the new bank of the brand, 75% agreed that they prefer the services from the new bank

more than previous, 59% agreed that the new bank is more dependable than previous, 85%

agreed that they prefer the reputation of the new bank than previous, 86% agreed that the

new bank demonstrates adherence to customer financial safety and quality measures than

previous, 57% agreed that the new bank has up-to-date equipment compared to previous,

61% agreed that employees are well dressed and appear neater compared to previous, %

agreed that the physical environment of the new bank is clean compared to previous.

Finally the revealed that there was a significant relationship between perceived quality and

perception with a beta coefficient of 0.421. Majority of the respondents were in agreement

with the various aspects of perceived service quality and how they influence customer

perception. Specifically 85% agreed that they expect better service quality from the new

bank of the brand, 75% agreed that they prefer the services from the new bank more than

previous, 59% agreed that the new bank is more dependable than previous, 85% agreed that

they prefer the reputation of the new bank than previous, 86% agreed that the new bank

demonstrates adherence to customer financial safety and quality measures than previous,

57% agreed that the new bank has up-to-date equipment compared to previous, 61% agreed

that employees are well dressed and appear neater compared to previous, % agreed that the

physical environment of the new bank is clean compared to previous.

5.3 Discussion

5.3.1 Corporate Identity and Customer Perception


customer perception with a beta coefficient of 0.531. The findings agree with Warell (2001)

who affirms that people have strong connections to brands and brand name. Brand name

influences the customer decision in car choice. When people intend to purchase a car, they

41

have many brand names to choose from, but usually people purchase a car with preference

to brand name and company reputation in market because of trust and previous experience.

Robertson (2007) in his supports choosing the proper brand name is often the centrepiece

of introductory marketing programs can enhance brand awareness and help create a

favourable brand image for a newly introduced product. Recognizing the important and

complex role of brand names as part of marketing strategy, several different possible

criteria have been proposed for choosing brand names to build brand equity.

The findings also affirm that a brand name change, product name change can be done

because of mergers which allow the company to enter global markets, and seek more

profits. It can also aim to renew its product image so that it conveys a new message, and

clarify the company’s positioning to its consumers (Derexel & Gerlica, 2014). If not studied

enough, this opportunity to earn more money thanks to the changing name, can turn into a

disaster. A company must take into account the consumer’s point of view about the change.

If the change it too brutal, consumers may lose their faithfulness towards the brand or

product and because of this, they can even stop buying the product itself (Derexel &

Gerlica, 2014). According to Keller (2008) a brand image is considered to be all about

perceptions about a certain brand which is a reflection of that occur in the mind of a

consumer. Aeker (1996) further argues that such associations make reference to any brand

aspect that occur in the memory of the consumer’s memory. Roy and Banerjee (2007)

argues that brand image is a description of the thoughts and feelings of the consumer

towards the brand. Faircloth (2005) further defines a brand image as the overall mental

image which is visible in the mind of the consumer as well as its uniqueness when compared

to other brands.










42

The study further revealed that 91% of the respondents agreed that they can identify the

bank easier than before while 74% agreed that they easily recall the new brand name than

before. Creating an effective brand name, however, is a challenging task. Brand names help



(Levy, 1978). Therefore, according to Kohli & LeBahn (1995) a new brand name should







The findings affirm that a brand name change, product name change can be done because

of mergers which allow the company to enter global markets, and seek more profits. It can

also aim to renew its product image so that it conveys a new message, and clarify the

company’s positioning to its consumers (Derexel & Gerlica, 2014). Derexel and Gerlica

(2014) warn, if not studied enough, this opportunity to earn more money thanks to the

changing name, can turn into a disaster. A company must take into account the consumer’s

point of view about the change. If the change it too brutal, consumers may lose their

faithfulness towards the brand or product and because of this, they can even stop buying

the product itself (Derexel & Gerlica, 2014).

The study also revealed that 80% were in agreement that they prefer the current brand name

than the previous name with 82% of the respondents agreeing that the new design layout is

more attractive than the previous one while 76% of the respondents agreed that the new

design has sparked their interest in their products. According to Kaikati and Kaikati (2003)

colors can provide a facelift to aging logos. Colors have different meanings in different

cultures. Color associations to be influenced by numerous aspects. In their study it was

discovered some color association they stated could cross category boundaries they also

found that packaging in cold and dark colors were usually associated with high- prices and

refined aesthetics. In contrast, accessible products that are directed to price sensitive

consumer required light, mainly white colored packaging, while safe and guaranteed

products were associated with red packaging.

43

The findings agree with Azeem (2012) who argues that the blue is the most common

favorite color and is liked by both genders. Blue is seen as a trustworthy, peaceful and calm

color and is often related to the sky or water. It is usually cool and quiet but more electric

shades can give a dynamic feel. Although blue has the benefits of gender indifference and

being the most common favorite color, the overuse of blue can seem cold or uncaring.

Yellow is the most easily noticed, it grabs attention of a person so can be a good choice for

things such as magazine advertisements which may usually be ignored due to ad blindness

(Azeem, 2012). Yellow signifies happiness, optimism and warmth but also caution. The

main advantage of yellow is its attention grabbing feature so a combination of blue and

yellow can be a successful color scheme which could create a cool and calm mood from

the blue but still draw attention because of the yellow (Azeem, 2012).

Finally 87% agreed that they prefer the new brand colors than the previous color and 90%

of the respondents agreed that they can identify the new colors with a commercial bank and

not a micro-finance institution. The findings are in line with Azeem (2012) who argues that

the blue is the most common favourite colour and is liked by both genders. Blue is seen as

a trustworthy, peaceful and calm colour and is often related to the sky or water. It is usually

cool and quiet but more electric shades can give a dynamic feel. Although blue has the

benefits of gender indifference and being the most common favourite colour, the overuse

of blue can seem cold or uncaring. Yellow is the most easily noticed, it grabs attention of a

person so can be a good choice for things such as magazine advertisements which may

usually be ignored due to ad blindness (Azeem, 2012). Yellow signifies happiness,

optimism and warmth but also caution. The main advantage of yellow is its attention

grabbing feature so a combination of blue and yellow can be a successful colour scheme

which could create a cool and calm mood from the blue but still draw attention because of

the yellow (Azeem, 2012).

5.3.2 Repositioning and Consumer’s Perception


and customer perception with a beta coefficient of 0.574. Additionally 82% of the

respondents agreed that they like the new brand communication 70% agreed that they prefer

the new communication from the brand than previous communication as 62% agreed that

new communication is distinct from other banks while 76% agreed that they talk more

positively about the new brand than the previous. According to Einarsen (2013) branding

44

is the expression of the essential truth or value of an organisation, product or service. It is

communication of characteristics, values and attributes that clarify what this particular

brand is and is not. Branding is not a push strategy but a pull strategy. A brand will help

encourage someone to buy a product, and it directly supports whatever marketing activities

in play, but the brand does not explicitly say “buy me”. Instead, it says “This is what I am.

This is why I exist. If you agree, if you like me, you can buy me, support me, and

recommend me to your friends.”








activity (Kotler & Keller, 2011). According to Keller (2008) a brand image is considered

to be all about perceptions about a certain brand which is a reflection of that occur in the

mind of a consumer. Aeker (1996) further argues that such associations make reference to

any brand aspect that occur in the memory of the consumer’s memory. Roy and Banerjee

(2007) argues that brand image is a description of the thoughts and feelings of the consumer

towards the brand. Faircloth (2005) further defines a brand image as the overall mental

image which is visible in the mind of the consumer as well as its uniqueness when compared

to other brands.

The study also revealed that 64% of the respondents agreed that the new brand is modern

and competent compared to the previous as 78% of the respondents agree that they would

be willing to pay a premium price for products with the new brand than previous, on the

other hand 85% of the respondents agreed that they like being associated with the new

brand more than the previous. The findings affirm that Brand personality is an important

factor for the success of a brand in terms of preference and choice. Recent research findings

also indicate that a strong and positive brand personality can result in favourable product

evaluations such as perceived quality (Wang & Yang, 2008). Brand personality is

positively related to perceived quality; they assess not only the product, but also brand

attributes, such as packaging and style (Ramaseshan & Tsao, 2007). Aaker (1997)

45

identified five dimensions of brand personality as sincerity, excitement, competence,

sophistication and ruggedness.

Brand personality fulfils a multi-faceted function in consumer-organization as well as

within-organization communication tool; it allows an organization to identify consumer’

brand perceptions by its projection techniques with human metaphor (Lee, 2011). Brand

personality helps marketers communicate brand meaning which otherwise might not be

easy to understand and/or share (Lee, 2011). By adding robust, descriptive and realistic

explanations for core yet abstract brand identity, brand personality, makes the brand

meaning understandable and contemporary (Aaker & Joachimsthaler, 2000).

Finally the study revealed that 86% of the respondents agreed that they like the new position

of the brand as 78% of the respondents agree the position of the new brand is better than

the previous as 80% the new position of the brand is on the same level as market leaders

and 75% of the respondents agreed the new position is more favorable than the previous.

Finally 56% agreed that have a more positive attitude about the new position than previous.

Marketers often use brand positioning strategies in an attempt to differentiate via unique

associations, and this differentiation is often a source of competitive advantage (Chaudhuri,

2002). The relevance of the association is defined as how much people perceive the

association as a valuable, important and purchase decision driving feature for a brand within

the product category. Number is defined as the number of associations in the consumer’s

associative network for a brand (Till, 2011).

The findings affirm that indeed in the ever increasing competitive market place marketers

of fast moving consumer goods need to differentiate their products from those of

competitors in a pursuit to meet customer’s functional and emotional needs. Product

differentiation as defined by Trout (2009), is the values owned by a product, real or

perceived, rational or emotional, and the real place they occupy in the consumers’ mind

beyond the consumer just being aware of them. And the degree to which they possess these

values and have meaning in the consumers’ lives (beyond primacy of product) determines

whether they have differentiated themselves.

46

5.3.3 Perceived Quality and Consumer’s Perception

Finally the revealed that there was a significant relationship between perceived quality and

perception with a beta coefficient of 0.421. The findings affirm that a brand which is usually

associated with quality can create an image in the consumer’s mind and can be motivation

to buy a particular product (Vranesevic & Seancec, 2003). Hankinson (2005) investigated

the brand image of a travel destination from the perspective of a tourist and identified three

dimensions: overall attractiveness of the destination, functionality and ambience. All three

dimensions were correlated to perceived quality. According to (Lee, 2011) a consumer’s

perceived quality of a brand with a negative image will improve after it merges with a brand

with a positive image, and vice versa. In addition, superiority of the brand image they

acquire is correlated to the perceived quality of the brand.

For customers the quality of the brand is an important aspect when forming a perception

about the brand. The customer evaluates the brand according to his perceptions of quality

which is sometimes more difficult than actually delivering high quality (Arslan &Altuna,

2010). Customers who have strong attitudes about the quality of a brand tend to transfer

these positive attitudes to the brand extensions. Consumers’ acceptance of the extension

increases if the parent brand is perceived to be of high quality and therefore, perceived

quality of the brand highly impacts the image of the extension. Hence the perceived quality

of the brand will positively affect the product brand image.

The findings also agree with Zeithaml (1996) who states that perceived quality may differ

from actual quality for a variety of reasons. First, consumers may be overly influenced by

a previous image of poor quality. They may not believe new claims, or they may not be

willing to take the time to verify them. Thus it is critical to protect a brand from gaining a

reputation for shoddy quality from which recovery is difficult and sometimes impossible.

Second, a company may be achieving quality on a dimension that consumers do not

consider important.

In addition there is a need to make sure that investments in quality occur in areas that will

resonate with customers. Third, consumers rarely have all the information necessary to

make a rational and objective judgment on quality and even if they do have the information,

they may lack the time and motivation to process it. As a result, they rely on the influencing

perceived quality where understanding and managing these cues properly are key. Thus, it

47

is important to understand the little things that consumers use as the basis for making a

judgment of quality (Zeithaml, 1996).

Finally the findings also agree with Bartikowski (2010) who commented that higher quality

perceptions led to increased profits due to premium prices and in the long run, to effective

business growth, involving both market expansion and market share gains. There are

positive relationships between perceived quality and brand loyalty, between brand

awareness and perceived quality, apart from other allied relationships like advertising

attitudes and brand awareness, and distribution intensity and brand awareness in emerging

markets (Nguyen, 2011).

According to Zeithaml (1996) perceived quality may differ from actual quality for a variety

of reasons. First, consumers may be overly influenced by a previous image of poor quality.

They may not believe new claims, or they may not be willing to take the time to verify

them. Thus it is critical to protect a brand from gaining a reputation for shoddy quality from

which recovery is difficult and sometimes impossible. Second, a company may be

achieving quality on a dimension that consumers do not consider important.

5.4 Conclusions

5.4.1 Corporate Identity and Consumer’s Perception


customer perception. The study further concludes that majority of the respondents were in

agreement about the various aspects of corporate identity on customer perception because

they can identify the bank easier than before, they easily recall the new brand name than

before, they prefer the current brand name than the previous name, the new design layout

is more attractive than the previous one while, the new design has sparked their interest in

their products while they prefer the new brand colors than the previous color and finally

they can identify the new colors with a commercial bank and not a micro-finance

institution.

5.4.2 Repositioning and Consumer’s Perception


and customer perception because they like the new brand communication, they prefer the

48

new communication from the brand than previous communication as new communication

is distinct from other banks while they talk more positively about the new brand than the

previous, the new brand is modern and competent compared to the previous, they would

be willing to pay a premium price for products with the new brand than previous, on the

other hand, they like being associated with the new brand more than the previous, they like

the new position of the brand as the new brand is better than the previous as the new position

of the brand is on the same level as market leaders and respondents agreed the new position

is more favorable than the previous. Finally they have a more positive attitude about the

new position than previous.

5.4.3 Perceived Quality and Consumer’s Perception

Finally the study revealed that there was a significant relationship between perceived

quality and perception because agreed that they expect better service quality from the new

bank of the brand, they prefer the services from the new bank more than previous, the new

bank is more dependable than previous, customers prefer the reputation of the new bank

than previous, the new bank demonstrates adherence to customer financial safety and

quality measures than previous, the new bank has up-to-date equipment compared to

previous, employees are well dressed and appear neater compared to previous, the physical

environment of the new bank is clean compared to previous, the new bank performs the

service right the first time compared to previous, the new bank keeps their records

accurately compared to previous, employees of the new bank are never too busy to respond

to customers’ requests compared to previous, employees of the new bank are always willing

to help customers compared to previous, customers feel safe in their transactions with

employees at the new bank compared to previous, employees at new bank are more polite

with customers compared to previous, and finally employees at new bank give customers

personal service.

5.5 Recommendations

5.5.1 Recommendations for Improvement

5.5.1.1 Effect of Corporate Identity on Consumer’s Perception

The study highlighted the importance of utilizing all aspects of corporate identity to

influence consumer’s perception and having understood what the target audience

appreciates and values in a rebranded organisation. Banks should monitor the feedback

49

from customers regarding their brand in order to ensure the corporate identity is evolving

positively as per consumer needs.

5.5.1.2 Effect of Repositioning on Consumer’s Perception

Repositioning in reference to a rebranded organisation is critical to the success of the

creating a positive consumer perception. Understanding how to communicate the new

brand to the target audience ensures resources used in advertising have a high return on

investment, as consumers are willing to trust the bank with their personal and business

assets.

5.5.1.3 Effect of Perceived Quality on Consumer’s Perception

This study recommends that even though change of the corporate identity is an important

aspect of rebranding it cannot solely be responsible for a complete positive change of

consumer perception. Especially in a service industry like banking, repositioning and

service quality play an integral part in how the consumer experiences the new brand

promise.

5.5.2 Recommendation for Further Research

This study is among a few on consumer perception conducted in Nairobi, it is essential that

scholars and professionals in the fast changing business sector take on the topic with much

depth. Further research on the effect of rebranding on consumer perception would provide

extensive knowledge on the topic creating a better understanding and a firm foundation for

better execution by corporations to enhance competitive advantage in the current world

markets. It is recommended that such a study be done in different industries to build the

actual force of the study and more solid results.

50

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APPENDICES

APPENDIX I: INTRODUCTION LETTER

United States International University- Africa

P.O Box 1200

Nairobi, Kenya

[email protected]

January 6, 2018

Dear Respondent,

RE: REQUEST FOR YOUR PARTICIPATION IN MY ACADEMIC RESEARCH

PROJECT

I am a graduate student presently pursuing a course towards conferment of Master of

Business Administration (MBA) from United States International University – Africa. In

partial fulfillment of the requirements of the award of the degree, I am conducting a

research project to evaluate the effects of rebranding on consumer perception. You have

been randomly selected to participate in this study. Participation is voluntary and I will

spare a few minutes of your time to fill in the blanks of the attached list of questions to the

best of your knowledge. Kindly complete all sections of the questionnaire to enable me

complete the study. Please note that the information you provide will be treated as

confidential, and will only be used for purpose of this research.

The findings of this study will inform the banking industry in Kenya on the return on

investment of a rebranding exercise. The final report will be shared with top-level

management. The response is targeted from current Sidian bank customers in Nairobi.

Your participation in this study will be highly appreciated.

Yours Sincerely,

Judy N. Mwanzia

mailto:[email protected]

57

APPENDIX II: QUESTIONNAIRE

SECTION A: GENERAL INFORMATION

Please respond to the questions below by ticking in the boxes provided

1. Gender: Male Female

2. Occupation:

3. Your age:

. 18-24 25-31 32-38 39-45

46-52 53-59 60 or older

4. Total monthly income bracket (KES):

0- 49,999 50,000-99,999 100,000-149,999

150,000- 199,000 200,000 or higher

5. Your relationship to the bank?

Customer Staff

6. BRAND AWARENESS

A) Write down the name of the first bank that comes to your mind

B) Which of these five banks are you most familiar with?

KCB Sidian Equity Chase DTB Other

SECTION B: RESEARCH TOPIC

Research Question I: What is the effect of Corporate Identity Change on Consumer’s

Perception?

Please circle the choice that you feel suits your level of agreement from the choices

provided by the Likert-scale

58

1 = Strongly Disagree 2 = Disagree 3 = Neutral 4 = Agree 5 = Strongly Agree

Research Question II: What is the effect of Repositioning on Consumer’s Perception?

Please circle the choice that you feel suits how much you agree from the choices provided

by the Likert scale


I can identify the bank easier than before 1 2 3 4 5

I easily recall the new brand name than before 1 2 3 4 5

I prefer the current brand name than the previous name 1 2 3 4 5

The new design layout is more attractive than the

previous one

1 2 3 4 5

The new design has sparked my interest in their

products

1 2 3 4 5

I prefer new logo over the previous one 1 2 3 4 5

I prefer the new brand colors than the previous color 1 2 3 4 5

I can identify the new colors with a commercial bank

and not a micro-finance institution

1 2 3 4 5

I like the new brand communication 1 2 3 4 5

I prefer the new communication from the brand than

previous communication

1 2 3 4 5

The new communication is distinct from other banks 1 2 3 4 5

I talk more positively about the new brand than the

previous

1 2 3 4 5

The new brand is modern and competent compared to

the previous

1 2 3 4 5

I would be willing to pay a premium price for products

with the new brand than previous

1 2 3 4 5

I like being associated with the new brand more than

the previous

1 2 3 4 5

59

Research Question III: What is the effect on Perceived Quality on Consumer’s

Perception?


by the Likert scale


I like the new position of the brand 1 2 3 4 5

The position of the new brand is better than the

previous

1 2 3 4 5

The new position of the brand is on the same level as

market leaders

1 2 3 4 5

The new position is more favorable than the previous 1 2 3 4 5

I have a more positive attitude about the new position

than previous

1 2 3 4 5

I expect better service quality from the new bank of the

brand

1 2 3 4 5

I prefer the services from the new bank more than

previous

1 2 3 4 5

The new bank is more dependable than previous 1 2 3 4 5

I prefer the reputation of the new bank than previous 1 2 3 4 5

The new bank demonstrates adherence to customer

financial safety and quality measures than previous

1 2 3 4 5

The new bank has up-to-date equipment compared to

previous

1 2 3 4 5

Employees are well dressed and appear neater compared

to previous

1 2 3 4 5

The physical environment of the new bank is clean


1 2 3 4 5

The new bank performs the service right the first time


1 2 3 4 5

60

Research Question IV: What is the effect on Product Features on Consumer’s Perception


by the Likert scale


The new bank keeps their records accurately compared

to previous

1 2 3 4 5

Employees of the new bank are never too busy to

respond to customers’ requests compared to previous

1 2 3 4 5

Employees of the new bank are always willing to help

customers compared to previous

1 2 3 4 5

I feel safe in my transactions with employees at the new

bank compared to previous

1 2 3 4 5

Employees at new bank are more polite with customers


1 2 3 4 5

Employees at new bank give customers personal service 1 2 3 4 5

The new bank has better product features than previous 1 2 3 4 5

The new bank has better product offerings compared to

previous

1 2 3 4 5

I prefer the financial products from the new bank more

than previous

1 2 3 4 5

The new bank offers a wide variety of products


1 2 3 4 5

The products offered at the new bank are of better

quality compared to previous

1 2 3 4 5

The products offered by the new bank are more

innovative compared to previous

1 2 3 4 5

The new bank product features are more consumer

focused compared to previous

1 2 3 4 5

61

Research Question V: What is the Customer Perception?


by the Likert scale.

What is your overall perception toward the new Sidian Bank brand?

Good

Very good

Better

Best

Why do you choose Sidian Bank over competitor brands?

................................................................................................................................................

................................................................................................................................................

................................................................................................................................................

......

The new bank product offering are more competitive


1 2 3 4 5


I can recommend Sidian bank to friends and family 1 2 3 4 5

I will continue being a customer with Sidian bank 1 2 3 4 5

I switch banks based to preference 1 2 3 4 5

Documents

THE EFFECTS OF REBRANDING ON CUSTOMER PERCEPTION: A …