QUESTION 1. HSBC (2009, p.337) identities nine companies that share broadly similar business coverage, size and international scope:
Source: HSBC annual report and accounts 2009 Kotler and Keller (2012, pp. 271-272) maintain that there are three main sets of brand equity drivers:
The initial choices of brand elements or identities making the brand
The product and service and all accompanying marketing activities and supporting programs
Other associations indirectly transferred to the brand by linking it to some other identity The competitors of HSBC brand are approaching the task of building brand equity in multiple ways:
1. The initial choices of brand elements or identities making the brand.
…show more content…
2. The product and service and all accompanying marketing activities and supporting programs In 'Most valuable bank brands by service analysis ' (Brand Finance 2015, p. 7), Santander, HSBC and BNP Paribas are well-recognized in the retail banking service. UBS and Deutsche Bank are competitors in asset management/wealth sector and ranked the 1st and 2nd place respectively. In credit card service, Citigroup, Bank of America and Barclays are all in the top 10 with the highest brand value belonging to Citigroup. This advance may result from its successful "Enabling Progress" marketing campaign that 'reinforced both its banking products and its ongoing commitment to assisting its consumers on their journeys "from ambition to achievement" '(Interbrand 2015).
3. Other associations indirectly transferred to the brand by linking it to some other identity In 2014, Santander 'continues to effectively increase global brand awareness through brand ambassadors and its use of key drivers like corporate sponsorships, including Ferrari and McLaren Formula One ' (Interbrand 2015). On the other hand, Citigroup celebrated its 9th annual Global Community Day in 93 countries (The Citi Blog 2014). Whereas, Bank of America is also running the Unified Relay Across America and Special Olympics World Games as annual community activities (Bank of America 2015). Overall, although HSBC is performing as the best player in banking sector, it should pay attention
My company is a Canadian company called TD Bank. Yes banks are mega-glutinous, self-serving machines and TD has these characteristics similar to what we expect and perceive of such institutions. However, I like the leaders of this bank. They play the big boys game but over the years, their community support initiatives, programs, education and financial funding have proven their backing for various communities and entrepreneurial efforts. The following describes how TD Bank has embedded an element of long-term wealth creation into their enterprise.
Using its competitive advantage, Scotiabank has established itself as a driving force in the banking industry. It has won the Bank of the Year award in 2014, 2015 and 2016 because to their approach in making banking easier and more accessible through expansion of their e-commerce banking, credit, investments and insurance offers. They have also been acknowledged for creating employment opportunities, contributing towards economic growth (GDP) and sustaining international trade.
Berry, L. L. (2000). Cultivating service brand equity. Journal of the Academy of Marketing Science, 28(1), 128-137. Retrieved from http://link.springer.com/article/10.1177/0092070300281012
According to Keller(1993) the effective brand positioning gives a brand a competitive advantage or “unique selling proposition” that determines a reason why consumers are buying this product or service (Keller, 1993). Similarly, Kay (2004) argues that brand’s strength depends
CIBC has focused its core business on retail and business banking, wealth management, and whole sale banking. They have shown a proven track record of providing there customers with financial services and advice through a group upwards of 1100 branches worldwide. Strategies CIBC has portrayed is to continually find new ways to enhance the experience of the client and to stimulate safe revenue growth. CIBC has put emphases on creating deep meaningful relationships with all clients, constantly trying new ways to improve service and sales prospects and to create relationships with new clients while retaining existing clients for a long period of time (CIBC).
Brand equity is an important asset for any organization. It is also an assets that offers an organization or a brand a road to success. Brand equity is important because its brand's product is closely associated with its premium price in the market. An organization or a brand with positive brand equity typically have higher quality products and services when compared to similar generic unbranded products. Furthermore, brand equity is important because it helps an organization or a brand to strengthen its competitive edge in the market. It is important to an organization or a brand, the reason are that it help lower the marketing costs and allows a brand to enjoy higher brand awareness and brand loyalty. Therefore, the ultimate goal of a brand
Deutsche Bank in the Netherlands is an international universal bank made up of several divisions: Asset & Wealth Management, Corporate Banking & Securities, Global Transaction Banking and Private & Business Clients. The focus here is the Global Transaction Banking (GTB) division’s TF/CMC department. Their most important client segments are: Mid Cap and Large Cap. The focus for this marketing plan is on the Mid Cap segment, which consists of clients whose mother company is of Dutch origin, is an international player, and has turnover upwards of EUR 50 million (L. Hedges, personal communication, November 7th, 2014).
Usually brand equity and brand value are affected by the variety which offered to the consumers. Moreover, technology also affects brand value, because it can be used by competitors in order to duplicate any innovation (Moskowitz et al, 2009).
Wells Fargo is an international banking company that provides financial services to its customers. As an international, well known company, Wells Fargo is among the many that follow basic business management aspects. For one, Wells Fargo has a competitive advantage over some of the other companies in this type of business. For one, Wells Fargo major advantages is in the retail banking stores. It has one of the highest numbers in stores/spaces and it’s due to its large network allowing Wells Fargo to be a leader in retail banking. Another advantage this company has is the fact that is has had some changes in regulation which has allowed it to increase profits.
One thing that can make or break a company is its brand equity. Brand equity is the value that comes with the familiarity with a company’s branding and the feelings consumers have towards that brand (Brand Equity, n.d.). A company with strong brand equity usually gives consumers a sense of reliability and value; causing a higher inclination to purchase its products. It usually takes
As concluded in the case, there is a significant potential in focusing on customer’s needs, the third C in the triangle of Company, Competitor and Customer. In doing so, SCTP can build customer-based brand equity (Keller, 2001). Keller (2001) provides a four steps-model to build a strong brand that customers like to relate to.
This report compares financial performance of two major banks of UK i.e. HSBC Bank Plc and Barclays Bank Plc on the basis of their Balance sheets and profit and loss accounts for the year 2009. This report also provides SWOT analysis of both banks i.e. HSBC and Barclays Bank Plc and provides an insight into their Banking Strategies.
Barclays, in terms of reaching set goals and objectives can also look at its market. As was mentioned before, this company does a little of everything to accommodate almost each individual 's needs. By focusing on specific needs of its market, Barclays can gain more information, try as much as possible to provide for these needs. It is seen that Barclays has segmented its market, one good strategy used, in order to provide for its specific needs young, old, rich, poor, etc.
Barclays as a financial institution has established itself as a major player in the global financial services and banking sector. The company has spread out from its native UK to the rest of the world and its presence in developing regions of South Asia and Africa is massive. Barclays has become a global player in the market for financial services and may continue to grow even further as the years go by.
According to group´s performance from 2002-2006 identifies that Barclays´ performance underpinnings are represented by its strategy of acquiring other banking (such as ABN Amro and Banco Zaragozano) concerns to expand its retail as well as other banking services through representation in international markets as represented by the bank’s presence in 60 countries. This provides Barclays with the means to sell its highly profitable investment banking services as well as be positioned to service the cadre of multinational companies that utilize its diverse banking financial service packages.