The Causal Model of Brand Personality, Risk Aversion and Customer Loyalty

The purpose of this research was to explain the relationship between the personality of brands with risk aversion and customer loyalty. This research was applied in terms of purpose, descriptive correlation one in terms of information gathering and based on structural equation modeling. The statistical population consisted of all customers with credible brands (5 famous and high-income brands such as Adidas, Nike, Puma, Al-Sport, and Asx) in East Azarbaijan province. With regard to the unlimited statistical population, 384 people were selected as the statistical sample based on Morgan s table. The brand personality standard questionnaire (Jones et al., 2009), Customer loyalty Anismawa (2007), and a researcher-made risk aversion questionnaire were used to collect data. The validity of the questionnaires, in addition to the supervisor s approval, was confirmed by 10 supervised faculty members and the reliability of the questionnaire was 0.849, 0.867 and 0.957, respectively, using the Cronbach s alpha coefficient. The validity of the questionnaire structure was also confirmed by factor analysis. Data were analyzed using SPSS and Amos software. The results of structural equations showed that the brand personality has a direct and positive effect on risk aversion (factor = 0.359), attitudinal loyalty (factor = 0.575), behavioral loyalty of customers (factor = 0.548). Also, the model s indices show the fitness of the research communication model.