Impact of Brand Image on Customer Loyalty Behavior: Examining the Mediating Influence of Customer Satisfaction with Special Reference to Commercial Banks in Sri Lanka

Abstract

This research focuses to examined interlinks of Brand Image, Customer Loyalty, and Customer Satisfaction referring to the scope of Commercial Banks in Sri Lanka based on empirical and practice gaps identified. This study investigates how brand image impacts on customer loyalty behavior of the commercial banks in Sri Lanka with a clear set of research gaps to contribute new knowledge to the said context. Based on a review of literature, this study develops an integrative model, and that was tested using data collected from 240 respondents of their favorite brands through an online survey. In this study, researchers adopt a quantitative research design with a deductive research approach and convenience sampling method had been used for the data collection. It applied SPSS 26 software for statistical analysis. The findings reflect that brand image has a significant impact of customer loyalty behavior. The result further demonstrates that customer satisfaction mediates the relationship between brand image and customer loyalty with positive and significant effects. The findings contribute to make decision on enhancing the customer loyalty of Commercial Banks through impact of brand image and mediating effect of customer satisfaction. Finally, it recommends some strategies to enhance Customer Loyalty in the Commercial Banks industry.