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Branding in Priority Banking
Presentation by :- Gautam Buchha (AFTERSCHOOOL)
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Flow of the Presentation-
1. Introduction to Branding with Marketing perspective.
2. Branding with respect to Consumer and Corporate banking.
3. Brand Value Chain and case study concerning the impact of branding on banks.
4. Branding approach and methods for priority banking programs.
5. Application of branding in priority banking programs and SPSS Analysis.
6. A look at some of the international banks like HSBC and BOA. Further
emphasizing the need and importance of branding in banking industry.
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BRANDING What Is It ?
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Its a name, term design or symbol
it differentiates from others
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EXAMPLES
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WHY BRANDING
To build product recognition, motivate buyers
and concrete customer loyalty
Quality
Consistency
Confirm your credibility
To connect with your target prospectsemotionally and capitalize on brand exposure
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Brand Equity
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BRAND NAMES CHARACTERISTIC
Memorable
Meaningful
Likable
Transferable
and
adaptable
Protectable
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Generic product: characterized by plain label, withno advertising and no brand name Rice, Kerosene
Similar to Generic drugs in pharmaceutical industry
GenericGenericProductsProducts
CorporateCorporateBrandsBrands
PrivatePrivateBrandsBrands
CaptiveCaptive
BrandsBrands
FamilyFamily
BrandsBrands
IndividualIndividual
BrandsBrands
TypesTypes
OfOfBrandsBrands
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Corporate/company brand: Corporatebranding is the practice of using acompany's name as a product brandname.
GenericGenericProductsProducts
CorporatCorporate Brandse Brands
PrivatePrivateBrandsBrands
CaptiveCaptive
BrandsBrands
FamilyFamily
BrandsBrands
IndividualIndividual
BrandsBrands
TypesTypes
ofof
BrandBrand
ss
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Private brands: brand name placed on products
marketed by wholesalers and retailers.
Food Bazaar has adopted labels like Wow
Premium sanitary napkins, insecticide spray Quit,
Tasty Treat Kasundi , & Maniars Khakra .
GenericGenericProductsProducts
CorporateCorporateBrandsBrands
PrivatePrivateBrandsBrands
CaptiveCaptive
BrandsBrands
FamilyFamily
BrandsBrands
IndividualIndividual
BrandsBrands
TypesTypes
ofof
BrandBrand
ss
Private brands are popular with retailers because they usually carry higher gross
margins and thus are more profitable for the seller than manufacturer brands.
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Captive brands: national brands that are sold
exclusively by a retail chain Form of private branding
GenericGenericProductsProducts
CorporateCorporateBrandsBrands
PrivatePrivateBrandsBrands
CaptiveCaptive
BrandsBrands
FamilyFamily
BrandsBrands
IndividualIndividual
BrandsBrands
TypesTypes
ofof
BrandBrand
ss
NIIThas collaborated with
ICSI
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Family brand:A brand that is used on two or moreindividual brands.
It is also referred to as Umbrella Brand e.g.
Electrolux
GenericGenericProductsProducts
CorporateCorporateBrandsBrands
PrivatePrivateBrandsBrands
CaptiveCaptive
BrandsBrands
FamilyFamily
BrandBrand
IndividualIndividual
BrandBrand
TypesTypes
ofof
BrandBrand
ss
NoodlesSoupsSeasoningSavorsSauces
Sopasetc
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Individual brand: Unique brand name thatidentifies a specific offering within a firms product
line and that is not grouped under a family brand.
House of Brands or Multi-brand strategy:- Different
brand names under one company. e.g. P & G
Tide, Dash, Salvo etc.
GenericGenericProductsProducts
CorporateCorporateBrandsBrands
PrivatePrivateBrandsBrands
CaptiveCaptive
BrandsBrands
Family BrandFamily Brand
IndividuaIndividua
l Brandl Brand
TypesTypes
ofof
BrandBrand
ss
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BRANDING and BANKS ?
BRANDING andPrivate Banking ?
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WHY BRANDING ?
How does your organization differentiate itself ?
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I
Provide Attention
THE Projected
BRAND IMAGE
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Priority Banking Brand Value Chain
Program
Multiplier
Marketing
Program
Investment
Preferred
Customer
Mindset
ShareholderValueVALUE
STAGES
- Product
-Communications
-Advertising-Promotion
- Awareness
- Associations
- Attitudes- Attachment
- Activity
- Price premiums
- Price elasticities
- Market share
- Cost structure
- Profitability
- Stock price
- Price/Earnings ratio
- Market capitalization
Priority
consumer
Multiplier
MULTIPLIERS
- Clarity- Relevance
- Distinctiveness
- Consistency
- Channel support
- Consumer size & profile- Competitive reactions
- Market dynamics- Growth potential- Brand contribution
Market
Multiplier
Performanc
ein prioritybankingmarket
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A strong brand distinguishes itself by being:
Meaningful: A strong brand is relevant and compelling. Some brands create desire; others
meet existing demand, the customers you care about have to care about brand delivery.
Differentiating: Gives the business a distinct advantage over competitors. The difference
must make a differencetarget customers should perceive the difference as important.
Believable: A strong brand doesnt stretch too far or overpromise. These days people are
savvy and skeptical.
Transcendent: Conveys value beyond a specific offering. A strong brand adds value to a
great product when it has one, and still gives people a reason to buy when they do not need
it.
Consistent: A strong brand is expressed and delivered consistently across all touch points
not just in advertising and marketing communications.
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The internal perspective on brand strength includes whether
the brand is:
Sustainable: Enables the business to compete now and in future. It should be anenduring proposition that drives continuous improvement and innovation.
Adding business value: Should be able to show, measure and manage the causalrelationship between brand expenditures and increased revenue. brand spend image equity customer preference customer purchase revenue increase.
Clearly articulated: A strong brand is clearly defined and described to allstakeholders. Alignment in brand execution begins with common understanding.
Operationalized: A strong brand must be more than a vision a company expressesit must be what it does and what it delivers. Operationalizing the brand involvesthe deliberate and systematic management of the business around the brand.
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Four core branding disciplines
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Brand Strategy
Purpose is two-fold: to understand key aspects of a company's business, its marketplace, its customers and
other key audiences, and then to use these insights to define an appropriate brand strategy.
Brand Identity
Provides the highly distinctive outward expressions of the company's values, personality and promise itsidentity system consisting of elements such as the name, logo and tagline.
Brand Management-three key functions
Planning coordinated launch and delivery of brand messages, both internally and externally, integrating
with business and marketing plans to optimize impact and cost-effectiveness-planning
Actively cultivating brand understanding, providing employees with brand training, assets and tools so
they can consistently deliver "on-brand" communications, personal interactions and products.
Setting up a system and tools for monitoring and assessing the brand's health, resulting insights used not
only to maintain brand alignment, but also to evolve the brand strategy, identity, and experience.
Brand Experience
To enable companies to design a range of experiences that customers will find meaningful, memorable, and
associate explicitly with the brand. Doing this is the surest path to building brand trust, loyalty and advocacy.
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Related elements
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Objectives:
1. Establishing a holistic, yet scalable approach
for building product brands
2. Providing a foundational set of concepts andterminology for branding activities
3. Encompassing long-term brand management
in addition to specific development projects
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Brand Consideration- Three components are: the key drivers of choice, perceived
differentiation, and price sensitivity. Each of these three components influences brand
choice by impacting customer value..
Traditional models that focus only on customer satisfaction are misguided. Focus on Competitive forces, Most models suggest satisfied buyers will remain loyal.
Wrong assumptions: Ignoring roles of variety seeking behavior, environmental or
competitive forces.
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HDFC Bank-Priority Banking Programs
Rated as the Best Private Bank in the Super Affluent Category in India.
HDFC Bank World MasterCard Credit Card targeting high end , with a credit limit of Rs 3 lakhs
upwards, will be made available by invitation only.
The Visa Signature Card from HDFC is one of the most exclusive cards in the country, and comes
with a wide range of exclusive features like Signature Golf and Signature Access.
HDFC Bank Easy Shop Imperia Debit Card
It offers you wide range of benefits like enhanced limits, cash back and much more.
Exclusive Imperia PhoneBanking Service
The Imperia Phone Banking service gives the customer the freedom to do almost anything over the
phone - balance enquiry, loan-related queries and bill payment.
Enhanced Banking Convenience
Combined Monthly Statements for your savings, current and fixed deposit accounts
Payable At Par Imperia Cheque Book
Free Self/ Third party cash deposit at non home branches
Sweep-In Facility on your savings accounts
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Standard Chartered
'Cirque Selecte' is a series of unique lifestyle events, open to the privileged Priority banking customer,
which cater to your preferences in sports, music, dining, literature and entertainment.
At 'Money Talks', a series of seminars on financial and investment-related subjects, the customers aregiven a platform for interacting with eminent personalities from the world of finance.
NariIn January, 2009, an exclusive preview of paintings by Wasim Kapoor were showcased, based onthe theme psyche of the woman, with a backdrop of a fashion show featuring some of countrys topdesigners and fusion performances.
Exclusive Gala Dinner & Special SCB Presentation- The agenda for these events included talks by apanel of 3 specialists, which included the Regional Economist, who gave an update of the currenteconomic climate, the Treasury Specialist educated on opportunities in the currency market and lastly, aSME expert gave presentation on Financing Business Opportunities in Indonesia and Singapore.
e$aver AccountWould enable customers to manage money anytime, anywhere, and watch their savings grow faster
with competitive interest rates.
Marathon Savings AccountLets the customers enjoy an interest rate as attractive as that of time deposits while enjoying the
transaction convenience and the flexibility to withdraw money anytime.
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Survey
We Conducted the Survey Regarding the
Importance of Brand in the Priority Banking
Methodology
The Questionnaire was prepared and got it filled by
the 30 premier customer
Target Customers : Premium Clients The results were compiled and analyzed
Dependent Variable : Brand Equity
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Dependent Variable : Brand Equity
Independent Variable:
Brand Equity
Overdraft facilities
Mezzanine Finance
Sweep in facility(withdrawal of money from FD
without breaking it anytime)Membership Cards
Customized services
Dedicated RM
High Point Of sales limitsNon- banking services(e.g. managing tours)
If you know about HDFC, to what extent doyou know about its financial services?
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Inspiration for branding in banking
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Brand
Premium pricePremium price
Better investment
performance
Better investment
performanceAttract better talentAttract better talent
Decrease acquisition
cost
Decrease acquisition
cost
Differentiation and
competitive advantage
Differentiation and
competitive advantage
Simplify client choiceSimplify client choice
BRAND MANAGEMENT IN FINANCIAL
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Do the messages yourclients receive reflect
your brand?
Do you know whatyou want your brand
to stand for?
Do the messages youremployees receivereflect your brand?
To what degree arethe interactions withyour clients guided by
brand?
BRAND MANAGEMENT IN FINANCIALSERVICES
Is brand incorporatedin organizationaldecision-making?
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The client / advisor relationship, oftenthe key to the industry, is hard to
control
BrandBrand
managemenmanagemen
t challengest challenges
in financialin financial
servicesservices
Brand management is a relativelynew concept for the industry
Brand relevance is difficult tomaintain with so many client types
Industry trends have made brandpositioning more complex
The similarity of product offerings
makes differentiation more difficult
The significant changes required maychallenge the management of
traditional financialservices companies.
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Bank of America
RebrandingStrategies
HSBC The Worlds Local Bank
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HSBC- The World s Local Bank
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Thank [email protected]
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