Case: ICICI Bank – Brand Building in Retail Banking
Situational Analysis
This case highlights the journey of ICICI Bank towards its establishment as a formidable brand in the retail banking sector. Before ICICI, the banking sector was dominated by several state-run organizations. However, ICICI managed to identify its customer segments very aptly and design an offering for each of these segments in order to maximize the value it offered to these customer segments. Aimed at attracting young consumers to its retail banking operations through schemes such as “Chintamani” and “Jeete Raho” campaign for its insurance business, ICICI was able to successfully create a brand name for itself amongst its target customers. It also launched several well-known
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Jeete Raho- Retire form job and not from life communicating that you can live your life as happily even after the retirement.
Celebrity endorsement Amitabh Bachchan
He was made the brand ambassador of ICICI in 2001. Created a trust worthy image for the brand as he is one of the most respected and trusted personality in the Indian cinema industry which is very popular among the target segment of the ICICI brand.
Shah Rukh Khan
He was made the global brand ambassador for ICICI in 2006 .The aim was to cater to the Non Residential Indian’s and the international audience. His movies were popular and he had a major fan following in India as well as abroad.
Direct Mailers
They set up a separate department for direct communication through mails. The offers and mails were sent specifically to those people who are most likely to take that offer thus improving the efficiency of their marketing campaign.
Awards and recognition
ICICI partnered with CNBC TV18 to launch the emerging India awards in 2004. It is India’s biggest business award recognized by the Limca book of world record.
Competitor’s
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The top management must identify the exiting branding elements that must be removed and any new ones that need to be added to increase the profit margin as well as the revenue. In the wake of the global financial crisis, the earlier strategy of higher tolerance towards risky loans seemes to be itself a risky proposition, and such elements needed to be removed from the brand offering of ICICI Bank.
2. The top management of ICICI Bank must also decide whether to opt for a corporate level brand entity or a division level brand entity for the different functional departments of the ICICI bank. The corporate level branding w=earlier adopted was to create a perception of a complete banking solutions provider and in order to pomote cross-selling. However the offering included lower fees for repeat customers which had led to a significant decrease in the margins for ICICI Bank.
3. ICICI was inclined towards expanding globally to other countries after establishing a strong foothold in India and had taken several actions to realize that goal. However, in the wake of the global financial crisis, the top management must decide on whether it was the right time to engage in globl
After the completion of a mega-merger, TD Canada Trust seeks to reposition the brand in order to retain customers and realize steady revenue growth. To examine the investment return of the new brand campaign “comfortable banking”, Executive VP Armstrong led his team developed a “linkage analysis” system and proposed a new branch incentive plan. This essay aims to evaluate the “linkage analysis” model and its effectiveness, also to comment on the incentive plan based on results of “linkage analysis”.
Catherine, W., Tat Pui, L. and Henrik, U. (2011) The Roles of Branding for a Brand Entering
Sachin Tendulkar is the famous cricketers among the Asian Indians follow him and his cricket style. (Pettinger, 2015)
Regarding elements of integrated strengths, brand logo and corporate colours are highly integrated across different channels. What’s more, message strategies and common image are integrated well which showing the same brand image to consumers. In media aspect, TV, print and internet are showing the consistency brand image. However, tagline is the weakest factor which is not coordinated in different channel and lack of effective. Furthermore, direct mail sometimes delivers wrong product messages to different target segments. Last but not least, Bonds did not pay enough attention on product packages and rarely use package to deliver message.
How to Decrease Turnover of Non-Professional Direct Care Staff in Intermediate Care Facilities for Individuals with Intellectual Disabilities
At the time where competition became a reality for banks, Jyske Bank decided to make a major personality transformation from a traditional bank to a unique and different one. The new concept emerged from the values of society and the changing economy, and its main goal was to make banking more fun and less pretentious. This report will discuss the case study of “People, Service & Profit at JYSKE Bank” and will provide a detailed analysis of their marketing mix and how they modernized the 7 P’s to suit the changing customer needs.
while ICD-10-CM has many differences from ICD-9-CM; the new classification system does retain the traditional format and many of the same characteristics and conventions (AHIMA's 75th Anniversary National Convention and Exhibit Proceedings, 2003). Creating a data integration plan for Green Tree Healthcare starts with should be a unique code for all substantially different procedures.
According to Holt (2004), a brand can be defined as a term, name or a design that distinguishes product or service of one manufacturer from others. Brands are normally utilized in advertising, business and marketing. In accounting terms, brand is an intangible asset which is present within every organization. It is most valuable asset that is outlined in the balance sheet of a company. Brands owners need to effectively manage their brands in order to enhance shareholder value. Brand valuation is an important technique that associates money with a brand. Effective branding often results into high sales volumes of a particular product. A customer who prefers a brand is more likely to choose other products which are offered by the same brand. Brand can be stated as a personality that facilitates identification of a company, product or service. It even encompasses relation with other constituents like customers, partners, investors, staff, etc. Individuals distinguish psychological aspect of a brand from experimental
Once again, he wanted to show to his friends, comrades and all India that they needed to free there self from the cast segregation, and have a respect for all humans at the same time they were searching from freedom. He taught them that no job or task, therefore man was less important that another, and dignity is not related to money or status.
The process of ordering at the Bruce W. Carter Veterans Administration Hospital Affairs (VA) begins with the Purchasing Agent (PA). The PA places orders on the approved vendor website (USfoods.com), based on the needs stated by the Ingredient Control Room (ICR) Worker on the ingredient log. There currently is no forecast tool used, the ICR worker does have par levels that need to be fulfilled. Orders are place on Wednesday to be received on Friday and on Fridays to be received on Monday. The ICR worker twice a week accounts for items needed on the days the orders will be placed and the days after as well. The inventory of the items are placed in a log and a full department inventory is done at the end of every month. (In person communication, E. Aponte, January 30th, 2017)
This man was responsible for many great achievements in India’s past. For example, he was a senior leader in the Indian National Congress and also a founding father of the Republic of India. In his early life, Patel travelled to three different schools to get his education: Nadiad, Petlad, and Borsad. When he was thirty six years old, he transferred to Medium Temple Inn in London. It was here when he enrolled himself in a course that should have taken thirty six months. He managed to finish this course six months earlier than previously thought. Despite having no previous college experience, he managed to finish at the top of his class which is remarkable. Now onto his later achievements, Patel was also called “The Iron Man of India.” He was called this due to his stoic qualities and his strong determination to help India secede from British rule. He thrived for the independence of his country and nothing would quench his desire for this near-impossible task unless it was
As far as the pure economic aspect of the decision concerns, the implementation of a corporate branding strategy would increase the Customer Lifetime Value and therefore the profits of the company, as calculated in the attached
First of all, a strong brand can be seen as the condition for organisations to expand products, offer more service, and introduce new products (Chernatony and McDonald, 2003). Secondly, a strong brand can lead to growth marketing communication effectiveness (Keller, 2009). ‘To build a strong brand, the right knowledge structures must exist in the minds of actual or prospective customers so that they respond positively to marketing activities and programs in these different ways.’(Keller, 2003, p. 140) Furthermore, Kay (2005) asserted that the strong brand can be seen as a resource of management, which make brand extension easier and useful to build distribution network. Companies are not treated by the intermediaries (Chernatony and McDonald, 2003). Moreover, companies are comparatively easier to change price if they have strong brands. As Henderson, et al (2003) said, a strong brand can allow for premium pricing even still remain loyalty customers, which help companies to survive in the intensive competitive market.
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Long before now has branding been considered as one of the peripheral aspects of business. Manufacturers, investors and other key players focused on the product without paying much attention to the consumer. But as the business landscape got tougher, marketing became not just an integral part of business but one of the fundamental principles of success.