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KMID : 1002520110050020023
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Korean Journal of Health Service Management
2011 Volume.5 No. 2 p.23 ~ p.33
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The Effects of a Medical Institution’s Brand Equity on Price Premium
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Oh Chang-Seok
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Abstract
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The purpose of this study was to investigate the effects of a medical institution’s brand equity on the users’ trust and brand loyalty and further on price premium with trust and brand loyalty as the parameters. For that purpose, a survey was taken among 448 people that used service at university hospitals, general hospitals, and hospital in Busan. The results show that such brand equity components as the associated image of the brand and perceived quality had significant influences on relationships with trust with the latter having the greatest influences. Brand recognition, associated image of the brand, and perceived quality all had significant impacts on brand loyalty. The associated image of the brand had the biggest impacts, being followed by perceived quality and brand recognition in the order. Trust had positive impacts on brand loyalty according to the survey results about the quality of relationships with consumers, which suggests that medical institutions can increase their users’ brand loyalty and intention for re-use by promoting their trust in them. While brand loyalty turned out to have statistical significance on the users’ price premium, trust did not.
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KEYWORD
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Brand Equity, Perceived Quality, Trust, Brand Loyalty, Price Premium
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