The Influence of the Country of Origin Image on Brand Equity: A Study of Spanish Banks

Abstract

As there are few studies on the influence of the country of origin image on brand equity for services companies (as it is the case of financial institutions), the aim of this paper is to analyze the influence of the country of origin image on the brand equity of Spanish banks. A descriptive and quantitative research was employed, using the survey method to verify the hypothesis that the country of origin image (Spain) positively influences the brand equity of Spanish banks. The main statistical analyzes were the  factor analysis and the multiple regression analysis. As a result, it was found that the Attitude dimension underlying the variable Brand equity of Spanish banks suffered more influence than the Awareness dimension. Furthermore, it was found that the country of origin image positively influences the brand equity of Spanish banks. The technical aspects, in general, influence more than friendly aspects, thus implying a direction for the Spain brand development strategy focused on these aspects. Limitations of this study include the use of a non-probability sample and the use of Spanish banks as the object of study. We suggest the development of new works in the services area, in different categories and with different countries of origin, in order to provide further discussion and theoretical basis for future studies and strategic actions, aiming to create and improve the image of countries.