Year: 2025
Type: article
Study design: Observational Study
Abstract: This study explores the link between brand image and Net Promoter Score (NPS) in Iceland’s banking sector using data from three survey waves (2021, 2023, and 2025). While NPS is widely used to track customer loyalty, its relationship with brand image, especially in financial services, remains unclear. Drawing on repeated cross-sectional data (n = 1504), we examine how trust, corporate social responsibility, customer satisfaction, and perceived corruption relate to NPS across three major banks. Results show a consistently strong positive correlation (r > 0.5), with Arion Bank customers showing the highest association (r = 0.68). This suggests that customers with a positive image of the bank are far more likely to recommend it. The findings offer both theoretical and practical value: they reinforce the role of brand image in driving customer advocacy and support a more contextualized use of NPS in brand strategy and customer experience management.
Source: Administrative Sciences
Authors: Thorhallur Gudlaugsson, Unnar Theodorsson
Institution: University of Iceland
Language: English
Domain: Social Sciences
Open Access status: gold
Estimated APC paid: $1,689
OpenAlex ID: W4411499241