Effect of Sports Sponsorship on Consumer-based Brand Equity of Large Commercial Banks in Kenya

Abstract

The study examined the effect of sports sponsorship on CBBE of large CB in Kenya, using SIT as the anchoring theory and Aaker’s BE Model as the supporting theoretical framework. The research was motivated by the increasing investment in sports sponsorship by large CB and the need to understand its impact on CBBE. SIT suggests that people gain some of their own insight through group membership, including sports teams they support. Consequently, when banks sponsor sports teams or events, they can leverage the emotional connections that fans have with their teams to enhance brand perception and loyalty. Aaker’s BE Model provided the foundation for measuring CBBE through its dimensions of BW, PQ, BA, and BL. The research study used a descriptive research design, to collect data using structured questionnaires distributed to large CB bank customer. Sample size comprising 384 respondents was selected through convenience sampling with 330 questionnaires filled indicating a 87% response rate. For data collection, a structured questionnaire incorporating a Likert scale was used. Structured questions were developed based on all the study variables, using a 5-point agreement scale to capture respondents' feedback. Data analysis involved both descriptive and inferential methods, including frequencies, percentages, means, standard deviations, and a multivariate linear regression. Edited and coded data was analyzed using IBM SPSS statistics and presented using tables. The findings revealed that CBBE is significantly impacted by intensity, visibility, fit and effectives of SS. Effectiveness and fit were found to be better predictors of CBBE.