Brand Management in Financial Markets of Iran Based on Brand Equity: A Case Study in Tehran Stock Exchange

Abstract

Internal branding to achieve brand equity in financial markets is a new strategy for ensuring that employees act according to obligations of brand. Since employees are able to affect perceptions and buying decisions of the customers in financial companies and as a result, they play key role in success of organization, strengthening employee based brand equity can create a sustainable competitive advantage for organization. Goal of this research is to study brand management in financial markets of Iran and also identify key components affecting it in financial companies. This research is an applied research and the required data was gathered by distributing questionnaire among employees of Tehran Stock Exchange financial companies. To test the research hypotheses, structural equations modeling based on the Partial Least Square method has been used. The research results show that feedback of employees, brand internal communication and brand orientation of organization have positive and significant effect on brand equity in financial companies. One of the other findings of this research is presentation of a reliable model for measuring brand equity in financial markets.