Validation of the Brand Reconstruction Model of Refah Bank of Workers
Keywords:
brand, brand reconstruction, Refah Bank of Workers, model validityAbstract
In today’s world, with the rapid advancement of digital technologies, the transformation of customer behavioral patterns, the emergence of new fintech companies, and the increasing level of transparency in the expectations of key stakeholders, the banking industry has come under greater pressure to maintain and strengthen its brand position. These challenges have not only intensified competition but have also underscored the necessity of brand reconstruction as a vital strategic approach. Brand reconstruction, as a powerful tool, plays a fundamental role in ensuring the sustainable success of businesses and preserving their competitive advantage, especially in dynamic environments such as banking, which require continuous adaptation to change. The objective of this research was to determine the validity of the brand reconstruction model of Refah Bank of Workers. This study, based on its purpose, was applied research conducted using a survey method. The statistical population consisted of deputy managers and managers of Refah Bank of Workers across the country, totaling 1,200 individuals, from which a sample of 291 respondents was selected according to the Morgan table using cluster sampling. The data collection instrument was a researcher-made questionnaire. Validity and reliability were confirmed using convergent and discriminant validity criteria and a Cronbach’s alpha coefficient of 0.983. For data analysis, SmartPLS 3 software and structural equation modeling were employed. As a result, the GOF value was 0.605, indicating that the designed model possesses appropriate validity.
Downloads
References
1. Sajan A, Giri P. Understanding artificial intelligence and its major role in branding Strategic Brand Management in the Age of AI and Disruption: IGI Global Scientific Publishing; 2025. 127-54 p.
2. Witek-Hajduk MK, Grudecka A. Country of origin effect in international business: Strategic and consumer perspectives: Routledge; 2024.
3. Elyasi E, Afshar Mohajer K, Shafiei Z. Understanding the Reasons for Logo Redesign Over the Brand Lifecycle. Journal of Fine Arts: Visual Arts. 2018;23(3):41-52.
4. Ahmad R, Okechukwu W, Shaari H. The effect of rebranding on brand loyalty: Brand reputation as mediator. International Journal of Academic Research in Business and Social Sciences. 2022;12(11):3129-44. doi: 10.6007/IJARBSS/v12-i11/14581.
5. Joseph A, Gupta S, Wang Y, Schoefer K. Corporate rebranding: An internal perspective. Journal of Business Research. 2021;130:709-23. doi: 10.1016/j.jbusres.2020.04.020.
6. Ólafsson E. Rebranding a disgraced organization: A case study of the Icelandic banks: Master's thesis, Department of Business Administration; 2010.
7. Iglesias O, Landgraf P, Ind N, Markovic S, Koporcic N. Corporate brand identity co-creation in business-to-business contexts. Industrial Marketing Management. 2020;85:32-43. doi: 10.1016/j.indmarman.2019.09.008.
8. Ramachandran S, Laouisset DE. UAE Islamic banks debranding & rebranding: A case study. Academy of Strategic Management Journal. 2021;20(2):1-14.
9. Afsharian S, Haghighi M, Haghighi Kafash M, Aghazadeh M. Exploring the Dimensions of Organizational Brand Management in Mellat Bank Using a Meta-Synthesis Method. Iranian Management Research. 2021;25(4):114.
10. Tenai SC, Kwasira J. Influence of online services rebranding on customer service delivery in the banking sector in Eldoret Town. IOSR Journal of Business and Management (IOSR-JBM). 2020;22(10):32-40.
11. Noviardi F, Rahmanto AN, Slamet Y. Logo rebranding: Indonesian tax authority public relations strategy in forming organizational culture images. Informasi. 2020;50(1):30-45. doi: 10.21831/informasi.v50i1.29594.
12. Gharibi H, Dehdashti Shahrekh Z, Hosseini Mehr MR. The Impact of Brand Image and Brand Power on Customer Purchase Intentions from Online Stores: A Case Study of Bamilo. No. 2019(99).
13. Badpa A, Haghighi M, Salehi A. A Model for Recovery and Enhancement of the Brands of Commercial Banks in Iran: A Case Study of Bank Saderat Iran. Interdisciplinary Scientific Journal of Communication and Media Studies. 2023;6(20):202-169.
14. Barzegar-Termi Z, Fariz Taheri K, Jalali SM. Designing a Brand Identity Model in the Iranian Banking Industry. Business Management Perspectives. 2018;17(36):69.
15. Afsharian S, Haghighi M, Haghighi Kafash M, Aghazadeh H. Designing a Model for Organizational Brand Management in Mellat Bank with a Focus on Brand Logo. Islamic Art Studies. 2024;21(53).
16. Dorostkar E, Yaghoubi Pour A, Montazeri M, Shoul A. Designing a Model for Enhancing the Brand of Bank Melli Iran: A Mixed-Methods Approach. Scientific Journal of Islamic Economics and Banking. 2022;41:29-59.
17. Hamidizadeh MR, Saki Pour A, Jalali SM. Identifying and Evaluating the Model of Key Factors in Brand Rejuvenation at the Company Level. Scientific Journal of Brand Management Research. 2018;5(4):85-106.
18. de Almeida Souza JL, do Patrocínio RF, de Oliveira Costa M, de Oliveira Sá S. RE-BRANDING: Study on the repositioning of Banco Intermedium (Banco Inter). Archives of Business Research (ABR). 2019;7(10):132-44. doi: 10.14738/abr.710.7233.
19. Vukasović I, Ančić I, Starčević D. Rebranding as an Elementary Part of Corporate Repositioning and Reputation Management-Addiko Bank Example. Communication Management Review. 2017;2(02):8-28. doi: 10.22522/cmr20170221.
20. Al-Aji H, Hajipour B, Azizi S. Proposing a Model for the Rejuvenation of the National Brand of Syria in the Tourism Sector. Scientific Journal of Strategic Management Studies. 2022;13(49):1-17.
21. Wojciechowska Natalia K, editor Corporate Rebranding in The Banking Industry in The Shadow of Unfair Terms in Swiss Franc Loans: The Case Study of Mbank S.A. Proceedings of the 38th International Business Information Management Association (IBIMA); 2021.
22. Lannoo K, Thomadakis A. Rebranding Capital Markets Union: A Market Finance Action Plan. 2019.
23. Yazdani N, Sadat Mazloom S, editors. Investigating the Impact of Domestic Brands on Consumer Behavior. First International Conference on Leap in Management Sciences, Economics, and Accounting; 2021.
24. Kazemi Rad S, Ganjinia H, editors. The Impact of Brand Loyalty on Bank Brand Equity from the Perspective of Electronic Card Customers. First International Conference on Banking Service Marketing; 2009.
25. Saif A, Androvazh L, Naeimi E. Defining a Customer Experience Model Based on a Comprehensive Banking Approach with Emphasis on Social Responsibility: A Case Study of Refah Kargaran Bank. Journal of Social Development. 2025;1(4):18-3.
26. Khayari Haqiqat A, Faiz D, Azar A, Zarei A, Dehdashti Shahrekh Z. Proposing a Model of Brand Decline in the Food Industry. Business Management Perspectives. 2018;17(34):53-70.
27. Albad A, Darfashi H, editors. Investigating the Impact of Brand Reconstruction on Brand Equity: A Case Study of Snapp Food. Proceedings of the Fourth National Conference on Organizational Research and Management; 2022; Tehran.
28. Davoodzadeh Moghadam A, Azad N, Modiri M, editors. Investigating Brand Reconstruction in the Iranian Automotive Industry. Management and Humanities Research in Iran, Second National Conference on Research; 2016; Tehran.
29. Disli M, Schoors K, editors. The dynamic effects of bank rebranding and familiarity bias2019; Ghent University.
30. Daneshmand B, Haghighi M, Shojaei Bagheini G. Designing and Explaining a Model for Brand Survival and Strengthening in Hotels with a Focus on Tourism Industry Development: A Case Study of Selected Four-Star and Five-Star Hotels in Mashhad. Tourism and Leisure Studies. 2021;6(12):143-8.
31. Bamfo BA, Dogbe CSK, Osei-Wusu C. The effects of corporate rebranding on customer satisfaction and loyalty: Empirical evidence from the Ghanaian banking industry. Cogent Business & Management. 2018;5(1). doi: 10.1080/23311975.2017.1413970.
32. Ahonen M, editor Corporate re-branding process: A preliminary theoretical framework. Proceedings of the Conference on Corporate Communication; 2008.
33. Tendwa MM. Impact of rebranding on financial performance: A case of new Kenya cooperative creameries limited and national bank of Kenya 2016.
34. Zegeye W. Challenges & opportunities of corporate rebranding: In case of Zemen Bank: Master's thesis, St Mary's University School of Postgraduate Studies; 2016.
35. Kaul P, Arora S. Pre-and post-rebranding performance evaluation: a case study of selected Indian banks. International Journal of Financial Services Management. 2021;11(1):1-26. doi: 10.1504/IJFSM.2021.115742.
36. Afif R, Nasvian MF. Public Opinion on Facebook Rebrand to Meta: A Twitter Big Data Analysis on the First 24 Hours After Meta Launched. JURNAL IPTEKKOM Jurnal Ilmu Pengetahuan & Teknologi Informasi. 2022;24(1):1-19. doi: 10.17933/iptekkom.24.1.2022.1-19.
Downloads
Published
Submitted
Revised
Accepted
Issue
Section
License
Copyright (c) 2025 Hamidreza Hamidi (Author); Mehdi Mahmoudzadeh Vashan; Hossein Hakimpour, Mohammad Mohammadi (Author)
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
