Corporate Brand Image of Non-Local Banks from Consumers’ Vantage Point: An Emprical Study in Northern Cyprus

ABSTRACT: This emprical study sought to develop and test two models on corporate brand image of non-local banks located in Northern Cyprus. The study approaches corporate brand image from customers’ perspective. The study examines the relations between firm, non-firm communication of banks, brand familiarity, corporate brand image and brand loyalty. The context chosen for this emprical study is the banking industry in Northern Cyprus. A total of 200 correctly filled and returned questionnaires were obtained from the Turkish Cypriot customers of non-local banks located in Northern Cyprus. 235 questionnaires were distributed to customers of non-local banks by the researcher. Multiple Regression Analysis was used to test four hypotheses and two conceptual models. All four hypotheses were emprically accepted. The findings reveal that Brand Familiarity, Firm Communications and Non-firm Communications are influential on Corporate Image. However, Non-firm Communications were proved to be more influential on formation of Corporate Image compared to others. Besides, Corporate Brand Image is found to be influential on Brand Loyalty of customers. This study is believed to contribute bank managers in North Cyprus with an implication that in addition to firm communications, they should be aware of the power of publicity and word of mouth communication. Instead of a reactive approach, bank managers and staff should be actively involved in communication process with not only customers but also relevant stakeholders whose perceptions about the bank are likely to contribute formation of favorable corporate image. Keywords: Firm, Non-firm Communication of Banks, Brand Familiarity, Corporate Image, Customer Brand Loyalty …………………………………………………………………………………………………………………………