Effects of brand attitude and eWOM on consumers' willingness to pay in the banking industry: Mediating role of consumer-brand identification and brand equity

The aim of this research is to investigate the influence of brand attitude (BAtt) and electronic word-of-mouth (eWOM) on the willingness of customers to pay premium prices (WTPp) in the banking industry. The proposed conceptual model includes a full mediation of consumer-brand identification and consumer-based brand equity. The data was gathered through a web survey, which was administered among bank customers, yielding a total of 280 valid responses. The analysis was conducted using structural equation modelling. The results shed light on the process that transforms BAtt and eWOM in WTPp. The study has important implications for both theory and practice.