Indian banks’ taglines, trust building and customer satisfaction

INDIAN BANKS’ TAGLINES, TRUST BUILDING AND CUSTOMER SATISFACTION This case study can be used effectively to examine the relationship between Customers’ Trust (of a brand), Customer Satisfaction and the resulting Consumer Behavior. This relationship when analyzed, with the help of Indian Banks’ taglines offer several insights into the consumer behavior towards banks. While other industries’ companies have a wider choice of positioning platforms why does banking industry (specifically banks) have a limited choice of positioning platforms (with family, friends and partner, at least in the Indian context)? How does the ubiquitous and ever growing popularity of social media affect consumers’ trust and therefore their consumer behavior? In digital era, where customers are highly informed, with plethora of choices and easy accessible to data and feedback from other customers, building trust and loyalty became a challenging task for banks. Unveiling all the answers to these questions the case study also focuses on how far customers connect themselves with these trust-based brand promises? Do these taglines help build the required trust in the mind space of the customers? Pedagogical Objectives • To understand Indian Banks’ trust building initiatives over the years, including through social media – and examine if there’s any tacit relationship between trust and business performance (as given by India’s Best Banks’ Rankings) • To analyze the taglines of Indian Banks and discuss and explore to derive a logical construct, if any, between banks’ taglines, their positioning statements and their business performance • To examine the relationship between customers’ trust, customers’ satisfaction and consumer behavior ABSTRACT © www.etcases.com

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Transcript of Indian banks’ taglines, trust building and customer satisfaction

INDIAN BANKS’ TAGLINES, TRUST BUILDINGAND CUSTOMER SATISFACTION

This case study can be used effectively to examine the relationship between Customers’ Trust(of a brand), Customer Satisfaction and the resulting Consumer Behavior. This relationshipwhen analyzed, with the help of Indian Banks’ taglines offer several insights into the consumerbehavior towards banks. While other industries’ companies have a wider choice of positioningplatforms why does banking industry (specifically banks) have a limited choice of positioningplatforms (with family, friends and partner, at least in the Indian context)? How does theubiquitous and ever growing popularity of social media affect consumers’ trust and thereforetheir consumer behavior? In digital era, where customers are highly informed, with plethora ofchoices and easy accessible to data and feedback from other customers, building trust and loyaltybecame a challenging task for banks. Unveiling all the answers to these questions the case studyalso focuses on how far customers connect themselves with these trust-based brand promises?Do these taglines help build the required trust in the mind space of the customers?

Pedagogical Objectives

• To understand Indian Banks’ trust building initiatives over the years, including throughsocial media – and examine if there’s any tacit relationship between trust and businessperformance (as given by India’s Best Banks’ Rankings)

• To analyze the taglines of Indian Banks and discuss and explore to derive a logical construct,if any, between banks’ taglines, their positioning statements and their business performance

• To examine the relationship between customers’ trust, customers’ satisfaction and consumerbehavior

ABSTRACT