Resumen de Patterns in competitive structure among retail financial services brands
Purpose - The purpose of this paper is to determine if services brands such as banks share their customers with competing brands in-line with the market share of those competitors, and whether services brands with similar images form market partitions with heightened competitive intensity.
Design/methodology/approach - The study uses brand usage, forced-choice and brand perceptions data obtained from a survey of consumers. The study uses a log-linear modelling framework to identify market structure and to test if partitions correspond to similarities in brand image.
Findings - Analysis of in-market data shows customers share their requirements between competing brands in line with market share, and that brands with similar images do not form partitions. However, when consumers are asked to choose brands for a specific product, there is some tentative evidence of brand partitions among brands with similar brand image.
Practical implications - The results here can help managers in service markets such as banking and insurance understand market structure. As a result they can better plan customer acquisition and retention strategies.
Originality/value - The study addresses a lack of research into customer sharing and switching in services markets. No previous study has successfully employed both brand-sharing, forced-choice and brand image data to identify market structure in a services context.
