The Impact of Brand Experience, Service Quality, and Perceived Value on Word of Mouth and Repurchase Intentions

Introduction

A brand is something that you own and can build on, that customers will continue to give value to long after they've bought and used it. A strong brand builds loyalty and loyalty builds long-term stickiness. A strong brand not only creates loyal customers who will purchase again, but also encourages word-of-mouth marketing, which in turn builds even more loyalty. In a world of hyper competition, a brand is what stands out from the crowd and ensures that your customers come back again and again. If you're looking to build a strong brand, you have all of the tools you need to do so in this guide. But it requires the right kind of attention to detail, for you have to think about every single interaction that your customer has with you and make sure that everything you do — both now and over time — is built towards building a strong brand.

Word of mouth is a complex phenomenon because people talk about brands in the context of their interaction with products such as consumer services. It is important to understand the relationship between WOM and product or service experience. Word of mouth has long been studied in marketing research. Various studies have shown that (WOM) is more significant than other tools of interaction in terms of organizational marketing (Bucklin, 2008). Organizations focus on meeting customers’ expectations. Thus, once the organization succeeds in satisfying its customers, they become a source of effective communication and marketing for the organization. Therefore, organizations emphasize the need to manage this factor (Ennew, Banerjee & Li, 2000). Although most marketers see WOM as an old marketing tool, it’s still the most effective and influential marketing strategy (Naz, 2014). Positive WOM from relatives, family members, friends, and colleagues are considerably more influential than other promotional strategies on different marketing media. The customer’s purchase of a similar product more than once is called a repurchase intention. The key factors behind the purchase of products or services from the same organization are customer satisfaction, trust, and loyalty (Hong & Cho, 2011). Similarly, if customers are not satisfied, their level of trust and loyalty will not meet the objectives, leading to adverse results (Fauzi & Suryani, 2019). Various researchers have studied the concept of RI and the key factors affecting it (Law & Xiande, 2009). Most customer purchases are repeat purchases (Harun et al., 2020). Customers usually purchase the same products or services frequently from similar firms, and the majority items characterize a series of purchases instead of the purchase of a single item.

As much as banking is concerned, WOM is of great importance. It plays a significant role in the banking sector of developed economies (Flavia, Guinalı & Casalo, 2008; Zeithaml, 2015). Banks are customer-focused (Choudhury, 2014). And they work to integrate innovation into their services to meet emerging expectations. High-quality service makes customers loyal, urges them to spread positive WOM, and keeps them transacting with the same bank. It’s essential for a bank to consistently improve its service quality. Satisfied customers may describe a particular bank’s SQ to their family members, friends, fellow businessmen, etc. Their description greatly influences the person’s perception of that bank, so more people may be tempted to deal with that bank to receive quality services. In developing economies, the main focus is on identifying the services to be offered to customers with low and average incomes (Kravets & Sandikci, 2014). The role of positive WOM and repurchase intention is significant in developing economies (Chandy & Narasimhan, 2015). Recent studies focus on positive WOM from retail bank customers in Pakistan and their intention to remain as customers (Duarte et al., 2018). Retail banks in Pakistan put their utmost efforts in creating a solid BE.