BANKACILIK SEKTÖRÜNDE REKLAM HARCAMALARININ MARKA DEĞERİNE ETKİSİNİN PANEL VERİ ANALİZİ ARACILIĞIYLA İNCELENMESİ

Bu çalışmanın amacı bankacılık sektöründe reklam harcamalarının marka değerine etkisini araştırmaktır. Çalışma, Keller ve Lehmann'ın (2003) marka değer zinciri modeli aşamalarından biri olan pazarlama yatırımı yaklaşımı temel alınarak yapılmıştır. Çalışmaya 2012-2021 yılları arasında KAP'ta finansal raporlarını yayınlayan ve aynı dönemde Brand Finance Türkiye-100 marka değeri sıralamasında ilk 100'de yer alan bankalar dahil edilmiştir. In this direction, data on ad expenses of the firms were obtained from PDP, and brand values were collected from Brand Finance Turkey-100 reports. Reklam harcamaları ile marka değeri arasındaki etkiyi ortaya çıkarmak için Panel Veri Analizi kullanılmıştır. Bulgular, reklam harcamalarının marka değeri üzerinde anlamlı ve güçlü bir pozitif etkiye sahip olduğunu göstermektedir.

Anahtar Kelimeler:

Bankacılık, , Reklam Harcamaları, , Marka Değeri, , Panel Veri Analizi.

AN INVESTIGATION ON THE EFFECT OF AD EXPENSES ON BRAND VALUE IN THE BANKING SECTOR THROUGH PANEL DATA ANALYSIS

This paper aims to investigate the effect of ad expenses on brand value in the banking sector. The study was conducted based on the marketing investment approach, one of Keller and Lehmann's (2003) brand value chain model stages. In the study, banks that published their financial reports on the Public Disclosure Platform (PDP) between 2012-2021 and were in the top 100 in the Brand Finance Turkey-100 brand value ranking report in the same period were included. In this direction, data on the firms’ ad expenses were obtained from the PDP, and brand values were collected from Brand Finance Turkey-100 reports. Panel Data Analysis was used to reveal the effect between ad expenses and brand value. Findings showed that ad expenses have a significant and strong positive effect on brand value.

Keywords:

Banking, , Ad Expenses, , Brand Value, , Panel data Analysis (PDA).,

PDF

___

References Aaker, D. A. (1991). Managing brand value: Capitalizing on the value of a brand name. New York, The Free Press.
Ailawadi, K. L., Lehmann, D. R., & Neslin, S. A. (2003). Revenue premium as an outcome measure of brand equity. Journal of Marketing, 67(4), 1-17.
Apan, M. (2020). Bankaların marka değeri performansları ile finansal performanslarının karşılaştırmalı analizi: Türk mevduat bankaları üzerine bir uygulama. Iğdır Üniversitesi Sosyal Bilimler Dergisi, (22), 487-518.
Baltagi, B. (2008). Econometric analysis of panel data. England: John Wiley and Son.
Barney, J. (1991). Firm resources and sustained competitive advantage. Journal of management, 17(1), 99-120.
Brand Finance, (2017). Türkiye’nin en değerli ve en güçlü markaları raporu (İstanbul).
Brand Finance, (2018). Türkiye’nin en değerli ve en güçlü markaları raporu (İstanbul).
Brand Finance, (2019). Türkiye’nin en değerli ve en güçlü markaları raporu (İstanbul).
Brand Finance, (2020). Türkiye’nin en değerli ve en güçlü markaları raporu (İstanbul).
Brand Finance, (2021). Türkiye’nin en değerli ve en güçlü markaları raporu (İstanbul).
Can, P. (2016). Marka deneyimi, hedonik duygular ve algılanan reklâm harcamalarının marka değeri boyutlarına etkisi üzerine fast food sektöründe bir araştırma. Uluslararası Yönetim İktisat ve İşletme Dergisi.12(30), 121-143.
Chaudhuri, A. (2002). How brand reputation affects the ad-brand equity link. Journal of Advertising Research, 42(3), 33-43.
Cho, T., Cho, T., Zhao, G., & Zhang, H. (2020). The Impact of South Korea Golf Resort Social Network Services Ad and Online Word of Mouth on Consumer Brand Value. Sustainability, 12(11), 4339-4340.
Chu, S., & Keh, H. T. (2006). Brand value creation: Analysis of the Interbrand-Business Week brand value rankings. Marketing Letters, 17(4), 323-331.
Cici, E. N., & Şekeroğlu, G. (2021). Marka Değerinin Finansal Performans Üzerindeki Etkisinde Reklam Harcamalarının Aracı Rolü. Sosyoekonomi, 29(49), 235-250.
Clark, C. R., Doraszelski, U., & Draganska, M. (2009). The effect of ad on brand awareness and perceived quality: An empirical investigation using panel data. Qme, 7(2), 207-236.
Delgado-Ballester, E., Navarro, A., & Sicilia, M. (2012). Revitalising brands through communication messages: The role of brand familiarity. European Journal of Marketing, 46(1/2), 31-51.
Divanoğlu, S.U., & Bağcı, H. (2022). Determination of Consumer-Based Financial Brand Value in Banking Activities. Anemon Muş Alparslan Üniversitesi Sosyal Bilimler Dergisi, 10(1), 139-155.
Divanoğlu, S.U., Bağcı, H., Eroğlu, M. (2019). Hirose Yöntemi İle Finansal Marka Değerinin Hesaplanması: Borsa İstanbul Bankacılık Sektörü Uygulaması, İşletme Araştırmaları Dergisi, 11 (4), 2566-2577.
Du, R. Y., Joo, M., & Wilbur, K. C. (2019). Ad and brand attitudes: Evidence from 575 brands over five years. Quantitative Marketing and Economics, 17(3), 257-323.
Eng, L. L., & Keh, H. T. (2007). The effects of ad and brand value on future operating and market performance. Journal of Advertising, 36(4), 91-100.
Fang, E., Palmatier, R. W., & Steenkamp, J. B. E. (2008). Effect of service transition strategies on firm value. Journal of Marketing, 72(5), 1-14.
Franzen, G. (2002). Reklâmın BVne Etkisi. Mediacat Kitapları (Çeviri: Fevzi Yalım) İstanbul.
Grullon, G., Kanatas, G., & Weston, J. P. (2004). Ad, breadth of ownership, and liquidity. The Review of Financial Studies, 17(2), 439-461.
Günay, B. (2021). Brand Finance Turkey 100 Listesinde Yer Alan Bankaların Marka Değerleri İle İlişkili Ölçütlerin Belirlenmesine Yönelik Bir Analiz. Journal of Management and Economics Research, 19(1), 273-287.
Gupta, S., Gallear, D., Rudd, J., & Foroudi, P. (2020). The impact of brand value on brand competitiveness. Journal of Business Research, 112, 210-222.
Herremans, I. M., Ryans Jr, J. K., & Aggarwal, R. (2000). Linking ad and brand value. Business Horizons, 43(3), 19-26.
Hunt, S. D. (1999). The strategic imperative and sustainable competitive advantage: public policy implications of resource-advantage theory. Journal of the Academy of Marketing Science, 27, 144-159.
Hunt, S. D., & Morgan, R. M. (1995). The comparative advantage theory of competition. Journal of Marketing, 59(2), 1-15.
Işık, F., & Ay, C. (2022). Banka Çağrı Merkezi Hizmet Kalitesinin Tüketici Temelli Banka Marka Değerine Etkisi: Ampirik Bir Araştırma, İşletme Araştırmaları Dergisi, 14 (1), 232-248.
Kahraman, A., & Gacar, A. (2019). Türkiye’deki En Değerli Bankaların Marka Performansları Ve Finansal Performanslarının Karşılaştırılması. Pamukkale Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, (35), 19-34.
Karimi, M., Fallah Shams, M., Kordlouie, H., & Vazifehdoust, H. (2022). Investigating Joint Effects of Brand Value and Advertising Expenditure on Corporate Financial Performance and Stock Returns. International Journal of Finance & Managerial Accounting, 7(24), 265-273.
Keller, K. L. (2008). Strategic brand management, Building, Measuring and Managing Brand Equity. International edition: Pearson Education. New Jersey.
Keller, K. L., & Lehmann, D. R. (2003). How do brands create value?. Marketing Management, 12(3), 26-26.
Kendirli, H. C., & Kakac, B. (2018). Brand Value and Financial Performance Relationship: BIST 30 (Istanbul Stock Exchange) Application Analysis. Advances in Business, Hospitality and Tourism Research, 263.
Kirmani, A. (1990). The effect of perceived ad costs on brand perceptions. Journal of Consumer Research, 17(2), 160-171.
Kirmani, A., & Wright, P. (1989). Money talks: Perceived ad expense and expected product quality. Journal of Consumer Research, 16(3), 344-353.
Li, F., Larimo, J., & Leonidou, L. C. (2021). Social media marketing strategy: definition, conceptualization, taxonomy, validation, and future agenda. Journal of the Academy of Marketing Science, 49, 51-70.
Madhavaram, S., & Hunt, S. D. (2008). The service-dominant logic and a hierarchy of operant resources: developing masterful operant resources and implications for marketing strategy. Journal of the Academy of Marketing Science, 36, 67-82.
Mizik, N., & Jacobson, R. (2003). Trading off between value creation and value appropriation: The financial implications of shifts in strategic emphasis. Journal of marketing, 67(1), 63-76.
Morgan, N. A. (2012). Marketing and business performance. Journal of the Academy of Marketing Science, 40, 102-119.
Nkomo, K., Mototo, L. & Chuchu, T. (2017). The effect of ad on brand attitudes and perceived brand value: the case of South African township youth luxury brand choices. African Journal of Hospitality, Tourism and Leisure, 6 (1), 1-14.
Önder, C. (2019). Şirket ve bankaların marka değeri ile mali performansları üzerine bir araştırma. Bankacılık ve Sermaye Piyasası Araştırmaları Dergisi, 3(8), 22-36.
Peterson, R. A., & Jeong, J. (2010). Exploring the impact of advertising and R&D expenditures on corporate brand value and firm-level financial performance. Journal of the Academy of Marketing Science, 38(6), 677-690.
Popescu, C., Hysa, E., & Panait, M. (2022). Perspectives of Responsible Management in Today’s VUCA World. In Agile Management and VUCA-RR: Opportunities and Threats in Industry 4.0 towards Society 5.0(pp. 57-71). Emerald Publishing Limited.
Poyraz, E., & Mirgen, Ç. (2020). Reklâm Giderlerinin Marka Değerine Etkisinin Panel Regresyon Yöntemiyle İncelenmesi: Türkiye’deki Firmalara Yönelik Bir Araştırma. International Review of Economics and Management, 8(1), 107-123.
Rajavi, K., Lehmann, D. R., Keller, K. L., & Golmohammadi, A. (2022). Ad expenditures and perceived quality: a replication and extension. Marketing Letters, 1-9.
Roberts, P. W., & Dowling, G. R. (2002). Corporate reputation and sustained superior financial performance. Strategic management journal, 23(12), 1077-1093.
Simon, C. J., & Sullivan, M. W. (1993). The measurement and determinants of brand equity: A Financial Approach. Marketing Science, 12(1), 28-52.
Srivastava, R. K., Shervani, T. A., & Fahey, L. (1998). Market-based assets and shareholder value: A framework for analysis. Journal of Marketing, 62(1), 2-18.
Statista (2022) https://www.statista.com/statistics/491857/turkey-ad-spending/
Statista (2023a) https://www.statista.com/statistics/272443/growth-of-ad-spending-worldwide/
Statista (2023b) https://www.statista.com/statistics/236943/global-ad-spending/
Stock, J.H. & Watson, M.W. (2008). “Heteroskedasticity-robust Standard Errors for Fixed Effects Panel Data Regression”, Econometrica, 76 (1), 155-174.
Torres-Reyna, O. (2007). Panel data analysis fixed and random effects using Stata (v. 4.2). Data & Statistical Services, Priceton University, 112, 49.
Tosun, N. (2007). BV yaratmada reklâm ile halkla ilişkiler arasındaki etkileşim. Galatasaray Üniversitesi İletişim Dergisi, (6), 181-199.
Tsai, Y. L., & Honka, E. (2021). Informational and noninformational advertising content. Marketing Science, 40(6), 1030-1058.
Uţă, D. S., & Popescu, C. (2013). Shaping attitudes–Analysis of existing models. Economic Insights – Trends and Challenges, 65(3), 61-71.
Uyar, U. ve Sarak, G. (2020). Finansal Oranlar ile Firma Değeri İlişkisinin Borsa İstanbul ve Londra Borsası İmalat Sanayi Sektörlerinde Karşılaştırılması. Ekonomi Politika ve Finans Araştırmaları Dergisi, 5(3), 537-560.
Varadarajan, R. (2020). Customer information resources advantage, marketing strategy and business performance: A market resources based view. Industrial Marketing Management, 89, 89-97.
Wang, D. H. M., Chen, P. H., Yu, T. H. K., & Hsiao, C. Y. (2015). The effects of corporate social responsibility on brand equity and firm performance. Journal of Business Research, 68(11), 2232-2236.
Wang, F., Zhang, X. P. S., & Ouyang, M. (2009). Does ad create sustained firm value? The capitalization of brand intangible. Journal of the Academy of Marketing Science, 37(2), 130-143.