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BRANDING & PRIORITY BANKING

ON

“Importance and scope of branding in priority banking program


run by Indian and foreign banks, taking into perspective the
customer and the key features he associates with a strong banking
brand”.

BY:
GAUTAM BUCHHA
PGPSE PARTICIPANT , AFTERSCHOOOL CENTRE FOR SOCIAL
ENTREPRENEURSHIP , BIKANER
Table of contents

Introduction to branding from branding perspective ……...................................................................1

Types of brand ….......................................................................................................................................2

Role of brand in consumer and business banking …….........................................................................3

Effects of brand on financial behavior ……............................................................................................4

Consumer and corporate banking …….....................................................................................................4

Quantifying brand’s impact ……...............................................................................................................5

Brand value chain ……...............................................................................................................................5

Marketing program investments ……........................................................................................................6

Market performance ……............................................................................................................................7

Case study on bank of Baroda ……............................................................................................................8

Steps to branding …….................................................................................................................................12

Branding principles …….............................................................................................................................14

Brand value and important intangible assets ……...................................................................................16

Brand strength model ……..........................................................................................................................17


Executive Summary

The study on “Importance and scope of branding in priority banking program run by
Indian and foreign banks, taking into perspective the customer and the key features he
associates with a strong banking brand” has been undertaken by us to get insights into
marketing and particularly into branding process.

The methodology that was used for the analysis is as follows- Primary data was collected
through questionnaire, by taking information from prospective premium customers of HDFC
BANK. Discriminant Analysis was then done on it to determine the attributes that affect the
brand equity to a large extent. From the analysis it was found that dedicated relationship
managers, provision of various facilities, High point of sales and Non-banking services like
managing tours play an important role in determining the brand equity of the banks.

We studied the Concept of branding and various strategies followed by different banks. Then we
looked at the significance as how branding could help in differentiation. The similarity of
product offerings makes differentiation more difficult in banks. We found that re- branding
strategies affect the customer’s base and market share. We studied the significance of brand
scorecard in analyzing the performance of banks.

Finally we looked at HDFC’S branding strategy from the perspective of introduction of different
products or customized services for different consumers, where we justify the tagline of “We
understand your World” with the help of internal attributes and external differentiations. We
found that Brand is one of the key resources from the perspective of customer value proposition
for every organization both, at the domestic and at the global levels.
Introduction to Branding from Marketing Perspective:

In today’s world there is nothing which cannot be branded. Branding is giving a name, sign
symbol for identifying it, so that we can distinctly identify the product from that of other
products. It creates a point of difference between a company’s product and competitor’s product.
Simply we can say that it’s a mixture of tangible and intangible attributes, which create value and
influence.
The American Marketing Association (AMA) defines a brand as a "name, term, sign, symbol or
design, or a combination of them intended to identify the goods and services of one seller or
group of sellers and to differentiate them from those of other sellers.

Examples of brands:
Brands examples
Person DHONI,AMITABH BACHCHAN, SRK
Place KERELA, SWITZERLAND
Product PEPSI, MAGGI, RAYMOND CLOTH
Services HDFC BANK, SATYAM
Retail BIG BAZAAR, SHOPPERS STOP
store
WEB SITE GOOGLE, NAUKARI.COM
Organizati TATA, RELIANCE, WIPRO
on

The use of brands is important in product planning for several reasons:


• To build product recognition, motivate buyers and concrete customer loyalty.
• To ensure quality, consistency & confirm your credibility.
• To connect with your target prospects emotionally and capitalize on brand exposure.

Elements of branding:
• Brand is a name, term, design, symbol, or combination of these elements that identifies a
business, product, or service and distinguishes it from its competitors.
• Trade name is a phrase or symbol that identifies and promotes a company or a division
of a particular corporation; also known as a corporate brand.
• Brand mark is: A unique symbol, coloring, lettering, or other design elements.
We can find the term brand in different contexts in different ways. There are some of the terms
used for it:
1. Brand equity: Brand equity is something which tells value of a product. It’s the
difference between prices paid for the product because of being of a particular brand. Had
that brand not been associated to that particular product what would have been the price
payable? To explain it further we can look at example of soft drinks. There is not much
difference between soft drinks in terms of taste and color. But a consumer is ready to pay
the extra sum for the name of Pepsi and Coca cola. Hence that is the brand equity of
Pepsi for which consumer is paying extra sum of 8-10 rupees. Branding is not a short
term proposition. So it plays a very important role in company strategy. Companies
determine name of the brand keeping a lot of considerations in mind.
Why branding?
• Confirms your credibility: Branding confirms the credibility. So that next time when
consumer goes to market he will ask for the same product with its brand name not the
generic name.
• Connects your target prospects emotionally: Consumers get emotionally attached to
the product due to its brand.
• Motivates the buyer: Brand name creates an intrinsic motivation to buy that product
again and again.
• Concretes User Loyalty: Consumer gets loyal by using the product again and again.

Name of the brand should be:


• Memorable–The name of brand should be memorable. So that it will be easy to recall
and customer when going to next time will consider its name.
• Meaningful– The name of brand should convey the half of the message whether visually
or verbally. The name of the brand should say what it is meant for.
• Likable– Name should be interesting so that everyone will remember it. It may have an
element of fun at times.
• Transferable and adaptable–It should be kept in such a way that you can use the name
for the whole product range. It should not be specific. And it may be used in different
parts of the country and cultures.
• Protectable– It should be kept in such a way that it will be legally followed. No-one else
can use it and it should not mean something else.

Types of brands:

• Generic product: Characterized by plain label, with no advertising and no brand name –
Rice, Kerosene, generally used in pharmaceutical industry.
• Corporate/company brand: Corporate branding is the practice of using a company's
name as a product brand name i.e. Pepsi.
• Private brands: Brand name placed on products marketed by wholesalers and retailers.
Food Bazaar has ‘adopted’ labels like Wow Premium sanitary napkins.
• Captive brands: National brands that are sold exclusively by a retail chain, like Arvind
Mills for future group.
• Family brand: A brand that is used on two or more individual brands, E.g. Maggie.
• Individual brand: Unique brand name that identifies a specific offering within a firm’s
product line and that is not grouped under a family brand as in P&G’s Tide, Head and
Shoulders.

Role of ‘brand’ in consumer and business banking-


The world economy has a significant over-supply of products and services in all sectors. As a
result differentiation through strong branding is becoming more and more important. This is as
true in financial services as in consumer products. Even non-traditional financial services
companies, like Virgin, have created an array of well-designed, differentiated, financial products.
Both consumer and wholesale markets are saturated and with so many alternatives, branding is
becoming a deciding factor. As such, there is an increasing onus on each brand’s to communicate
why it is uniquely able to satisfy customer needs.
Banks need to provide a consistent brand experience to prevent customers from switching to rival
banks. There are significant differences in priorities for customers between the developed and
developing world. In the developing world, the emphasis is on trustworthiness and for financial
strength and stability. Decisions are often made on more practical issues such as price and
network. Consumer banks have traditionally invested more in marketing activities than their
wholesale counterparts. This is changing as Executive Boards are realizing the value of brands in
driving business.

Consequently many banks are developing Brand Scorecards to track and correlate the impact of
marketing expenditure with business performance. However, many banks remain poor at
analyzing the effectiveness of their marketing investment across both their product and service
offering.

Effect of Brands on Financial behavior-

Linking brand and marketing metrics to financial performance is often a complex process.
However, using market research (targeting customer and key stakeholders) combined with
competitor benchmarking as inputs, it is possible to evaluate the effectiveness of marketing
activities, and to establish the brand contribution to each segment of a banking business. The
varying levels of brand involvement in the purchasing decisions across a bank’s product and
service portfolio are governed by the ‘Drivers of Demand’ – the critical factors affecting
purchasing decisions.

Figure 1 and Figure 2 provide an overview of the relationship between marketing actions and
business performance, which are linked by the resulting changes in perceived attributes and their
impact on customer behavior.

Figure
11
Consumer Banking-

In consumer banking functional drivers of demand, like the quality of product and service, are
the start point for customer choice. For most complex and high-value products, consumers prefer
a face-to-face exchange, a fact that is reflected by many leading banks returning to their retail
branch roots. Increasing consumer access to the internet – allowing potential customers to
compare and review a wide range of financial products – means that price and product
fundamentals are scrutinized in more detail. But for the majority of consumers image attributes
often swing the final decision.

Corporate Banking-

A business-to-business purchasing decision should theoretically be more rational and informed


than a consumer purchasing decision. However the brand and reputation are still extremely
important.
In our experience ‘hygiene factors’ include price and technical capability. But the two most
significant drivers of demand in business banking are personal relationships and brand
reputation. This is because a degree of practical competence is assumed to be present across the
competitor set. A typical brand valuation analysis would incorporate data sets taken from market
research including areas such as relationship depth, product penetration, and share of mind,
satisfaction and quality indices and an assessment of recent marketing activity.

Figure
2

Quantifying Brand’s impact-


For the purposes of this global valuation study Brand Finance has created a simplified Brand
Index methodology, which draws on publicly available data to score each brand in each product
and service area. The Brand Index is expressed on a scale of 0 to 100. It quantifies the strength of
the bank’s brand relative to its main competitors, with reference to key business and brand
attributes. Each competitor is scored out of 100 on each chosen attribute. The attributes are
weighted and aggregated into an index for each brand.

Within this study, the Brand Index used both quantitative and qualitative data:
I. Input measures:
Quality of Brand Management
Brand Presence
II. Brand Equity:
Familiarity
Functional Performance
Emotional Connection
Brand Preference
III. Output measures:
Revenue Growth
Market Share
Profitability
Consensus Analyst Ratings

Brand value chain-

The various Value stages-


Brand value creation begins with marketing activity by the firm that influences customers in a
way affecting how the brand performs in the market place and thus how it is valued by the
financial community.

Marketing program investment-


Marketing program investments can be attributed to the brand value development, either
international or not, falls into this first value stage. Specifically some of the bigger marketing
expenditure relate to product research, product development, and design; trade or intermediary
support; and marketing communications (e.g. advertising, promotion, sponsorship, direct and
interactive marketing, personal selling, publicity, and public relations). The extent of financial
investment only committed to the marketing program of priority banking will not determine its
success.
Program multiplier

The ability of the marketing program to affect the priority customer mindset will depend on the
quality of that program investment.
• Clarity- How much evident is the priority banking marketing program? Do the
consumers properly interpret and evaluate the meaning conveyed by brand marketing?
• Relevance- How relevant is the marketing program to customers? Do the consumers feel
that the brand should be given serious consideration?
• Distinctiveness- How creative and differentiating is the marketing program?
• Consistency- How well integrated is the marketing program? Does the marketing
program relate effectively to past marketing programs and properly balance continuity
and change evolving the brands in the right direction?
• Customer mindset- Customer mindset includes everything that exists in the mind of the
customers with respect to brand: thoughts, feelings, experiences, images, perceptions,
beliefs, attitudes and so forth. Brand value is created at this stage when the customer have
1. High level of awareness
2. Strong, favorable and unique brand associations
3. Positive brand attitudes
4. Intense brand attachment and loyalty
5. High degree of brand activity

Customer multiplier:-The extent to which value created in the minds of customer affects the
market performance depends on various contextual factors external to the customer.
The factors are as follows:-
1) Competitive Superiority: how effective is the quality of market investments of other
competing brand
2) Channel and other intermediary support: How much brand reinforcement and selling effort
is being put by various marketing partners
3) Customer size and profile: this signifies the number and type of customers which are
attracted to the brand.
Market performance-
Six key outcomes of that response are as follows:
The first two dimensions relate to price premiums and price elasticities.
1. The extra amount customers are willing to pay for willing to pay for a comparable product
because of its brand.
2. The amount their demand increases or decreases when the price rises or falls.

A third dimension is market share, which measures the success of the marketing program to
drive brand sales. Brand value is created with higher market shares, greater price premiums, and
more elastic responses to price decreases and inelastic responses to price increases.
The fourth dimension is brand expansion, the success of the brand in supporting line and
category extensions and new product launches into related categories.
The fifth dimension is cost structure because the customer already has favorable opinions and
knowledge about a brand, any aspect of marketing program is likely to be more effective for the
same level of expenditure.
When combined, these five factors lead to brand profitability. The brand value is created at this
stage to reach the final stage in terms of stock market valuation again depends on the external
factors, according to the market multiplier.
Market multiplier- The extent to which the value engendered by the market performance of a
brand is manifested in shareholder value depends on various contextual factors external to brand
itself. Financial analysts and investors consider a host of factors in arriving at their brand
valuations and investment decisions.

Market dynamics- This measures the dynamics of financial markets as a whole (e.g. interest
rates, investor sentiment, or supply of capital).
Growth potential- Measures the growth potential of HDFC bank and banking industry.
Risk profile- this signifies the risk profile of the brand.
Brand contribution- How important is the brand as a part of firm’s brand portfolio.
Share holder value- It can be measured in terms of P/E ratio, stock price and market
capitalization.

Case study on Bank of Baroda:


In the five years after the start of the 21st century, BOB, a 97-year-old organization with
about 2,700 branches spread across India, found that its business was stagnating and it was
losing market share at an alarming rate. The bank’s share in deposits had declined from
5.07% in 2000 to 4.07% in 2005 and its share in advances had declined from 5.10% to 3.26%
during the same period

Bank of Baroda Market Share (%) Year ended March Deposits Advances

2000 5.07 5.10

2001 4.69 4.80

2002 4.58 5.00

2003 4.60 4.19

2004 4.03 3.65

2005 4.07 3.26

Source: Bank of Baroda

Surveys sponsored by the bank revealed that products per customer ratio in BOB were 1.16 when
global best practice is 4. Of the bank’s 25 million customers, 67% held balances below INR 1000
when at least a deposit of INR 5000 is required for a bank to break even. While the cost per
customer per year was INR 1200, the bank earned a net interest margin of INR 30 from them.
Ten per cent of the bank’s customer accounts were dormant. The average age of the bank’s
customer was 43 while 70% of India’s population is under 35 years of age. An IMRB survey,
which analyzed the consumer market consisting of people in the 21-65 age group, revealed that
BOB had a very low market share across most consumer segments vis-à-vis its competitor and
India’s largest bank, State Bank of India (SBI)
With regard to visibility, although BOB was comparatively well known in the east, west, and
north of India, awareness about the bank was 13% in the south. Unaided awareness of the bank
in this region was 7% compared to 32% for its competitor ICICI, 28% for HDFC. Eighty per cent
of the bank’s 25 million customers were unaware that the bank offered retail loans. The bank’s
logo, created when the bank was established, had virtually no recall value; even some of the
bank’s oldest customers were unable to remember it. The IMRB survey revealed that SBI had
‘strong’ brand equity, ICICI’s and HDFC brand equity was ‘growing’, while BOB’s brand equity
was ‘weak’.
The survey concluded that BOB lacked differentiated positioning and consumers perceived it
to be ‘just another’ public sector bank, providing low levels of customer service and offering
only deposit-accepting services. In 2003, the banking industry witnessed an increase of 13.4%
in deposits and 15.1% in advances. In deposits, PSBs’ share declined from 81.9% in 2002 to
80.5% and in advances, it came down from 75.3% to 74.9%. On the other hand, private sector
banks increased their share in total deposits from 13.1% to 14.4% and in total advances, from
17.3% to 18%.

The bank’s logo consisted of a cogwheel, ears of corn, upraised hand and the tagline,
“Akshayyam te bhavishyati” (meaning, “Thou shall forever be prosperous”).

BOB appointed Gartner Consulting in April 2001 to assist the bank in assessing the situation,
developing a new business strategy and in enabling an IT strategy. The Gartner report revealed
that the bank had a complex symbolic logo and its tagline was more focused on the primary and
secondary activities of the economy. These facts, in addition to a serious lack of consistency in
displaying or reproducing it, in terms of colors, designs, layouts, typefaces and text, could be the
reason for the low unaided recognition of the logo among both consumers and non-consumers.
Roger Tuvy, a Gartner analyst, said that the bank needed to improve its marketing efforts.
Gartner also suggested a new re-positioning strategy revolving around taglines like “Baroda:
same (PSB) strengths, but with a new commitment to customers”; “Baroda: the superior
PSB brand, with a new feel for customer service”; “Baroda: responsible lenders for your
future”.

The top management of BOB commenced interventions relating to HR, organization structure
and business processes and took up branding as part of a holistic transformation to reposition the
bank. An open tender was held and bids were invited for the selection of a brand design
consultant. Ray &Keshavan, Bangalore-based brand consultants, were chosen to develop a new
logo. Ray & Keshavan proposed the idea of a vermilion colored ‘Baroda Sun’ and BOB’s Board
of Directors approved it in late 2004.

The Baroda Sun – The Intended Significance


• The sun is one of the most recognizable symbols the world over and it nurtures life.
• The morning sun is symbolic of change; a change from night to day.
• The sun’s five rays symbolize the global presence of BOB, in the sense that the rays fall
across the five continents of the world.
• The vermilion color symbolizes loyalty in India, where married Hindu women wear it on
the forehead as a mark of loyalty to their husbands.
• The Baroda Sun is at an angle, to represent the dynamic nature of the bank.

For the first time in the bank’s history, it was decided that the bank should have a brand
ambassador. BOB believed that it had found the ‘perfect match’ in Rahul Dravid. Firstly, just as
BOB had been a financially secure bank since its inception, Rahul Dravid was also perceived to
be a player of consistent and dependable quality in the Indian cricket team. Secondly, Rahul
Dravid was never involved in any controversies, personal or professional. Thirdly, the
essentially male customer base of the bank could better relate to Rahul Dravid compared to
Sushmita Sen, who was considered too up-market for BOB’s consumers. Finally, Rahul Dravid
is an international star and is a well-known personality across the cricket-playing nations of the
world.

This international status of Rahul Dravid was in line with the new positioning strategy of BOB.
The contract with Rahul Dravid, worth about INR 50 million, was signed in April 2005 for a
period of three years and three month Khandelwal wrote a letter to all the 40,000 BOB
employees explaining to them the necessity of re-branding the bank and changing the logo. A
house journal, Bobmaitri, especially devoted to this theme, was published and circulated
internally.

Problems Encountered: Signage conversion was the biggest task for BOB during the re-
branding. The BOB management decided to remove the branch name and the ‘Government of
India Undertaking’ tag. HDFC is the only bank other than BOB that does not have the branch
name on its signage. It was decided that the bank’s signage would display only the new logo and
the name of the bank. The application forms, stationery, letterheads and visiting cards bearing the
new logo were designed and distributed across the bank. Both print and electronic media were
selected with one objective, “to achieve the largest possible visibility for the new brand”. The
western states, where the bank has a greater presence, were widely covered. Educational,
financial and regional magazines with wide readership were chosen amongst the print media.
Websites were selected for advertising the new logo, and television commercials (TVCs),
featuring Rahul Dravid, were designed to be telecast after the brand launch.
The Baroda Sun has had a positive impact and this staff member is getting motivated. Within the
organization, this high motivational level is a major effect of the Baroda Sun.
Within 45 days of launch, 1.2 million new accounts were opened and about INR 6.5 billion was
mobilized. This is 5% of total accumulated customer base in 97 years; in 45 days BOB got 5% of
that. It is a phenomenal number. They gave cricket bats autographed by Rahul Dravid and Rahul
souvenirs. Some lucky customers who opened accounts would get to play a cricket match with
him. So to that extent it’s working for us. The power of brand and brand ambassador can easily
be realized from here.
In the 2005 survey of India’s ‘Most Trusted Brands’, published by the Economic Times, BOB
ranking had improved to 20th among service brands. The bank increased its products per
customer ratio to 1.5 by 2007 and 3 by 2008.

Steps to Branding:

Today’s tough economic climate may cause the company to be leery about the prospects of their
brand in the coming year. Reduced budgets and shrinking staffs may indeed limit the marketing
activity planned, but in order for the brand not only to survive but thrive in this economy, the
company must take action and ensure it remains strong.
A strong brand counteracts the downward pull of a tough market by sustaining price premiums and
higher margins because differentiation clears perception and results in its offerings, are perceived to
be differentiated and of higher value. A strong brand also staves off competitive threats.
A strong brand distinguishes itself by being:
• Meaningful approach: Is relevant and compelling. Some brands create desire; others meet
existing demand. The customers the bank cares about have to, in turn, care about what the
brand delivers.
• Differentiating: Gives the business a distinct advantage over competitors. Moreover, the
difference must make the target customers perceive the difference and think it is important.
• Believable: A strong brand doesn’t stretch far or overpromise, as people are savvy and
skeptical. Thus, what the company communicates about the brand should be authentic.
• Transcendent: A strong brand conveys value beyond a specific offering. It adds value to a
great product when it has one, and still gives people a reason to buy even when not needed.
• Consistently experienced: A strong brand is expressed and delivered consistently across all
touch points, not just in ads and marketing communications, but in all the company does.

A brand’s strength, however, is measured by more than the way people who are buying or using the
brand perceive it—that is, the external perspective. Internal perceptions—those of the people
responsible for developing and delivering the brand—also play a role. The internal perspective on
brand strength includes whether the brand is:
• Sustainable: Enables the business to compete now and in the future. A brand should be an
enduring proposition that drives continuous improvement and innovation for the
organization.
• Adding business value: A strong brand makes business sense, measure and manages the
causal relationship between brand expenditures and increased revenue. Usually it goes
something like: brand spend → image equity → customer preference → customer
purchase/repurchase → revenue increase.
• Clearly articulated: A strong brand is clearly defined and described to all stakeholders.
Alignment in brand execution begins with common understanding.
• Used as a tool: A strong brand inspires, informs and instructs all stakeholders so that they
interpret and reinforce it in their daily decision-making and actions.
• Operationalized: Operationalizing the brand involves the deliberate and systematic
management of the business around the brand—identifying, prioritizing, and implementing
programs and initiatives to deliver brand values and attributes.

Because branding must span broadly to be most integrated and effective, branding programs can
be difficult to plan, develop and manage. In response to this problem, a Branding Framework
could be developed, that would identify and relate key branding disciplines, points of
understanding, activities, and tangible expressions of the brand. The Framework is built around
four core disciplines: brand strategy, brand identity, brand management and brand experience.
Each of the core disciplines has several related elements. These elements may represent points of
understanding, activities, building blocks or types of communications.

Brand Strategy
Its 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. The brand strategy is critical because it sets the foundation for all other branding
activities it establishes a focused understanding and direction.

Brand Identity
Informed and directed by the Brand Strategy elements, the Brand Identity discipline provides the
highly distinctive outward expressions of the company's values, personality and promise. Its
identity system consists of elements such as the name and logo that are used repeatedly to
provide instant recognition. Beyond name and logo, the Brand Identity expresses the
organization's purpose and personality through a well-defined color palette, a characteristic
design system and additional verbal branding such as a tagline and category-defining phrases for
products and services.
Brand Management
The inclusion of the Brand Management discipline at this point in the framework is critical for
the three key functions it provides:
• 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 not just individual projects, but optimizing the overall priority.
• Actively cultivating brand understanding, adoption and ability among employees who
will be creating the customer's brand experience - providing them with brand training,
assets and tools so they can consistently deliver "on-brand" communications.
• Setting up a system and tools for monitoring and assessing the brand's health, so that
resulting insights can be used not only to maintain brand alignment, but also to evolve the
brand strategy, identity, experience and management over time.
Brand Experience
This enables companies to design a range of experiences that customers and other audiences will
find meaningful, memorable, and associate explicitly with the brand. Doing this is the surest path
to building brand trust, loyalty and advocacy. Also the term "Brand Experience" is inspirational:
it speaks to the goal of making every point of contact with the customer and other audiences as
remarkable, engaging and compelling as possible.
Brand Strategy Elements
Company- Captures the company's business history and situation, long-term vision, nearer-term
mission, cultural values and business goals, and its intrinsic personality.
Customers -Establishes an understanding of customer groups and other key audiences, such as
investors, employees, trade press and sales-channel employees.
Market- Defines the marketplace in which the company and/or its offerings will compete; can
include market trends and dynamics, traditional and non-traditional competitors.
Promise and Experience- The brand promise states what the company/products provide and the
benefits that customers can expect to enjoy from them.

Brand Identity Elements


Personality- Expressive characteristics that help breathe life into a brand and give it a distinct
presence-behaviorally, graphically and verbally. In addition to specific attribute descriptions,
some methods for characterizing personality as a package include brand persona, brand archetype
and brand personage.
Name- Depending on the brand strategy and architecture, different types of names could be
appropriate: descriptive (of functions or places), eponymous (named for some person),
suggestive (recognizable and relevant), arbitrary (a known word taken out of its normal context)
or fanciful (unique fabrications).
Logo- A company's or product's logo can be thought of as its "flag": distinctive, memorable, and
signaling value and allegiance in the brand it represents. Types of logos include logo marks
(graphic symbols) and logotypes (symbol and name combined in a specific arrangement).
Tagline- Often referred to as a "slogan," is a short verbal phrase that can serve a number of
purposes: it can provide descriptive information to define the company's business or the product's
function, the kinds of customers the company or product serves, or the benefit it provides.
Brand Management Elements
Planning- Focuses time and resources into specific decisions and priorities, identifying the
opportunities, budget and time for the best-possible delivery of the messages. Planning ideally
builds from the organization's overall business and marketing plans, and then breaks out to
specific program-, product- and project-level plans, both for launches and ongoing activities.
Training and Adoption-The organization's leaders, employees and partners must all understand
and deliver the brand-and better yet, become engaged and live it as part of the corporate culture.
Internal brand launches and employee brand training enhance a brand's clarity and authenticity,
and they help keep the business focused in serving its customers.
Tools- A number of tools can be developed and applied to support the discipline of brand
management. These can include brand training modules, a range of guidelines for brand, style,
examples of internal and external communications, and templates to "jump-start" projects with
appropriate design and assets already in place.
Monitoring and Assessment- A key aspect of brand management is paying attention to the
faithfulness of branding efforts, and also working to understand whether the efforts are
resonating with audiences. Both sides of this equation should be monitored and assessed on a
regular, ongoing basis to understand what's working, and what's not.

Brand Experience Elements


Products and Services- The design and function of the product and service offerings are crucial
elements of the brand experience created as they represent the embodiment of the brand.
Personal Interactions- These interactions range from how you answer the phone, to the
behavior of the sales and support staff, to discussions with the executives in meetings and public
forums.
Environments- Anything that provides surroundings for audiences can be considered an
environment; include physical spaces such as retail and office environments. Virtual
environments can be delivered through electronic media, including websites and CD-ROMs and
can help create a compelling and memorable brand experience.
PR and Events- Public relations efforts result in attention for the brand and offerings in media
coverage, public events and business forums. They have the potential to build a community and
following for the brand, helping it take on a life and momentum of its own.

Brand Value – An Important Intangible Asset


A brand is the most important asset in many businesses. This is due to the far reaching economic
impact that brands have on enterprise. Brands have also demonstrated a unique durability and
sustained competitive advantage unmatched by any other corporate asset. Brand is an intangible
asset and there are several methodologies suggested and prevalent for valuing brands. Some of
these methods are cost, market value, economic use and royalty relief. Companies often utilize
“Economic Use” model. This model is one of the standard methodologies in brand valuation by
companies in India.
This method is basically a combination of market factors and financial parameters to arrive at the
value of the brand. It uses Brand Strength Model which arrives at a brand strength score based
on various market parameters. This score is multiplied by the net brand earnings to estimate the
brand value. The Brand strength Model is used to determine the value of a brand based on the
assumption that a strong brand is more reliable for future earnings with lesser risk.
Method involving Brand Strength- This fully encompasses the attitude of customer satisfaction
and the behavior of repeat purchase---drivers of brand choice, the perceptual differences between
competitors, and links to business performance. The various parameters are,
• Employee Satisfaction: Apart from reduced turnover, lower training costs, and higher
morale, satisfied employees tend to deliver higher product quality, which directly
translate into higher customer satisfaction.
• Customer Satisfaction: Is used to identify key drivers of brand choice, performance
along those key drivers, competitive points of differentiation, and areas for improvement.
• Key Drivers of Choice: From a customer value perspective, the key drivers of brand
choice represent the relative importance of the product benefits that influence brand
choice. They are-
 Perceived Differentiation- As a customer perceives a brand to be more unique and a
match with her needs, its relative position in the consideration process is enhanced.
 Price Sensitivity- Buyers weigh the cost of the product relative to the benefit of the
product differently. Buyers frequently underestimate their willingness to pay for quality.
• 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.

What makes the Brand Strength approach unique when considered against other models of
satisfaction is the focus on competitive forces. Most models of satisfaction suggest buyers who
are satisfied with a product will remain loyal, ignoring the roles of variety seeking behavior,
environmental or competitive forces, or potentially higher satisfaction or perceptions of higher
satisfaction from competitors. Even models of satisfaction that include competitive products
include them at the satisfaction level and not at the brand choice level.
When a brand achieves relative Brand Strength over competitors, it benefits from a double
jeopardy effect:
• First, the decision maker is more confident that he is making the right choice and the size
of the consideration set is decreased.
• Second, since the brand is perceived as having strength, it is perceived as being even
more superior to the smaller set of competitors.
Hence, the brand benefits in two ways from Brand Strength. Under the Brand Strength approach,
the fundamental measurement system is traditional satisfaction research. However, the goals are
all outside the realm of traditional satisfaction research.
The new goals include:
• Operational Efficiencies, as suggested in the Balanced Scorecard Approach
• Enhanced Product Quality, as suggested in the TQM Approach
• Competitive Positioning, as suggested in the Customer Value Approach
• Business Performance: These goals are achieved by integrating the attitudes of employee
and customer satisfaction, the behavior or repeat purchase loyalty, as well as the drivers
of brand choice, relative competitive positioning, and links to business performance.
Priority banking Programs adopted at HDFC Bank:

• Rated as the Best Private Bank in the Super Affluent Category in India.
• The recent launch of the 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 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.
• Exclusive Imperia PhoneBanking Service-
The Imperia Phone Banking service gives customers the freedom to do almost anything
over the phone - balance enquiry, loan-related queries, bill payment and lots more.
• HDFC Bank Easy Shop Imperia Debit Card- It offers customers with a wide range of
benefits like enhanced limits, cash back and much more.
• Banking Convenience- This provides:
• Combined Monthly Statements for the savings, current and fixed deposit accounts
• Payable at Par Imperia Cheque Book
• Sweep-In Facility on the savings accounts
• Waiver on a host of service charges
• E-Broking
HDFC Bank offers a gateway for e-Broking, via HDFC Securities Trading account, to
facilitate easy T+2 settlements at a special price.

Priority banking Programs adopted at Standard Chartered Bank:

• Cirque Selecte' is a series of unique events, open to the Priority banking customer, which
cater to preferences in sports, music, dining, literature and entertainment.
• At 'Money Talks', a series of seminars on financial and investment-related subjects,
Standard Chartered give priority customers a platform for interacting with eminent
personalities from the world of finance.
• As a Member of the Movie Club, clients would be privy to exclusive movie previews
and specially organized screenings.
• “Nari” –in January 2009, an exclusive preview of paintings by Wasim Kapoor was
showcased, based on the theme – “psyche of the woman”, with a backdrop of a fashion
show featuring some of country’s top designers and fusion performances.
• Exquisite Audemars Piguet Launch- Co-sponsored by SCB International Banking and
The Peak Malaysia every year, preferred clients are invited to this high profile, posh
cocktail event. .
• E-$aver Account and Marathon Savings Account
As claimed by the bank- “Manage the money anytime, anywhere, and watch the savings
grow faster with our competitive interest rates”. Also, priority customers enjoy an
interest rate as attractive as that of time deposits while enjoying the transaction
convenience and the flexibility to withdraw the money anytime.

Components of Branding-
Advertising: In Advertising it is decided upon what kind of add should be there, who should
promote it and what colors and music should be used and when to air on TV and when to print in
Newspaper. The advertisement should create the personality of the product so that te target
audience can relate to it
Marketing: The Bridge between product and Reorganization of brand is marketing. If
advertisement is the way the public discovers the product then marketing determines what to
discover, i.e. to say marketing gives the personality to the product where as advertisement gives
the way it is communicated to the people.
Public Relations: In this the product is talked about the third party i.e. newspaper news or some
discussion. This is not funded by the company as a part of promotion. This is an effective
branding tool because when the something good is discussed about the product by third party
without it being paid then it creates a positive image among the Consumers

Advantages of Branding

1. Brand Differentiation: Branding helps a particular brand to differentiate itself from


others. Even if the company offers same product and services as that of the competitors
but due to the High and trusted brand this company scores over the competitors.
2. Creates Brand Personality and Identity: Branding is very Effective tool to create brand
personality for e.g. Bank of Baroda before branding it was considered to be low dynamic
brand and less attractive but after Bank Rebranding it was considered to be a dynamic
and strong brand. It associated itself to the young crowd
3. Premium Charges: The Company can always leverage on his high brand value and
brand image. It can charge more for its product and services than the competitors. For eg
the IBM Computer will be costlier than the Zenith PC
4. Company can come up with new products with same brand name: Company can
come with new kind of products and services under the same brand name so that they can
leverage on the value and trust they have in the market
5. Competitive advantage: A high brand value always crates a competitive advantage for
the company even if the competitors are selling the same products and services.

Disadvantages of Branding

1. Cost: If you wish to create and maintain a strong brand presence, it can involve a lot of
design and marketing costs. A strong brand is memorable, but people still need to be
exposed to it, this often requires a lot of advertising and PR over a long period of time,
which can be very costly.
2. Impersonal: One of the main problems with many branded businesses is that they lose
their personal image. The ability to deal on a personal basis with customers is one of the
biggest advantages small business have, and poorly designed branding could give
customers the impression that your business is losing its personal touch.
3. Fixed Image: Every brand has a certain image to potential customers, and part of that
image is about what products or services you sell. If you are known for selling just one
product, and you want to sell another product, will you be able to do so effectively?
If you sell computers, would your brand name be suitable for selling vacuum cleaners? If
your brand is focused too strongly on one product, it can limit your ability to sell other
products.
4. Time Scale: The process of creating a brand will usually take a long period of time. As
well as creating a brand and updating your signs and equipment, you need to expose it to
your potential customers. It is commonly shown that people need to see an advert at least
three times before they absorb it, which means you will need to advertise and promote the
brand for a considerable amount of time before it will become well known.

Survey Analysis-

We conducted the survey regarding the Attributes that affect the brand equity of the bank and to
what extend is affects the priority banking programs:

Methodology: In this survey we prepared the Questionnaire and then we get it filled by the
premium Customers. The data so obtained is analyzed in Excel and SPSS and we have tried to
draw the conclusion that what are the attributes that affect the brand equity and by how much.
Target Audience: We have tried to reach Premium Customers having salary more than 12 lakh
per annum.
Sample Size: 30 Clients
Analysis Tools Used: Discriminant analysis, Excel Charts

Results Obtained-
SPSS (Discriminant Analysis)
Discriminant Analysis is a technique for analyzing data when the dependent variable (DV) is
categorical (classification) and the predictor independent variables (IVs) are of interval or ratio
nature.
• Purpose: to understand segmentation/ classifications and to predict group membership
• Input: dependent variable as an indicator of group membership and independent
variables as classification criteria
• Key output: classification matrix

Important
1. Dependent Variables: Non-metric (Nominal/ ordinal scaled) Classification/grouping variable.
2. Independent Variables: Metric variables (Interval or ratio scaled variables).
The objectives of this technique are

1. Development of Discriminant function which is a linear combination of independent


variables, that best discriminates between the categories of the dependent variable
(groups)
2. Examine whether significant differences exists among the groups, in terms of the
predictor variables.
3. Determine which predictor variables contributes to most of the inter-group differences .
4. Classification of cases to one of the groups based on values of the predictor variables.
5. Evaluating accuracy of the classification.

Equation: The Linear discriminant analysis model known as the discriminant function is:
D (or Y) = b0 + b1 X1 + b2X2 + ………..+ bkXk
Where,
D = Discriminant score
bk = Discriminant coefficient
Xs = Independent variables (k independent variables)
In discriminant analysis a score is assigned to individuals or objects .This forms a basis for
classifying the item in the most likely class.

Here in our project we have:

Dependent Variables: Brand Equity


Independent Variables:
• 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 limits
• Non- banking services(e.g. managing tours)
• If you know about HDFC, to what extent do you know about its financial services?
Results of SPSS Obtained:

Eigen Value: Ratio of between group and within group sum of squares. Larger the Eigen value
better is the function. Eigen value > 1 indicates that 100% of the explained variance is accounted
for. (Square of the canonical correlation explains the % variation in the dependent variable
explained by the model).
We have got the Eigen Value >1 hence the model is very good more over the model has 100%
Variance i.e. the Independent Variables are completely explained by this model.

Wilk’s Lambda: Indicates the significance of the model. A lower value indicates higher
significance. (Wilks lamda is converted to a chi-square value)
Functions at Group Centroids:

Brand Function
Equity 1
0 3.906
1 -1.019

Unstandardized canonical discriminant functions evaluated at group means


The group Centroids tells us that Attributes below Value 1.44 (i.e. average of 3.906 and -1,019)
support the Brand Equity positively (for e.g. 1 increase in Dedicated RM causes 2.1 Times
Increase in Brand Equity). Attributes above Value 1.44 does not support Brand Equity

Findings: The main finding is that the variables that affect the most to brand equity in
positive manner are:
1. Dedicated RM
2. Customized Services
3. Sweep in Facility
4. Non Banking Services
5. High Point of Sales Limit
1. Excel Analysis
In this we have use excel charts to analyze the importance and demand of various
attributes.
Brand Equity: In this nearly 67% people believe that brand is an important factor before
investing, while 13% people are neutral towards it.
Sweep in Facility: In this nearly 73% people say that this attribute is very important for them
regarding their decision making when they have to choose the bank for large deposits. Whereas
only 20% are neutral to is. This is so because premium clients do a lot of spending.

Dedicated RM: This is one of the most important features that banks use to differentiate
themselves from other banks in case of priority banking. According to our Findings 73% people
says that Dedicated RM is necessary for them where as only 7% remained neutral or did not want
Dedicated RM.
Customized Services: Again Customer heavily responded (75%i) n the favors of customized
services as an important factor that motivates them to opt for priority banking.
High POS Limits: This graph shows 60% of the client wants high Point of Sales Limit. This is
important feature because premium customers spend a lot on Card and they carry less cash with
them. Whereas only 20 % feel this is not so important facility.

Importance of brand in banking business-

Branding is a relatively new concept for the financial industry. They are slowly realizing that
they need to manage their strategic assets, too. “Ultimately, a brand is the things people say
about you when you’re not there,” Brand is often associated with slogans, advertising
campaigns, logos, and organizational names. Brand is much more emotional in nature since it is
tied to ideas of reputation, trust, and quality of a firm. We follow the view that brand is what a
person feels after repeated interactions with any aspect of products or services. Since the brand is
so connected to what your firm stands for in the minds of your key constituents, it represents a
promise that the firm makes with its clients to deliver a set of experiences.

Financial services companies, particularly banks, must better establish brand identity as their
services begin to overlap and as technologies wipe out geographic boundaries. Through brand
identity, banks will be able to stand for something distinct, compelling and relevant in the minds
of customers, employees and investors. However, banks have been slow in establishing
consumer brand recognition. To be able to organize brand strength, banks should measure and
manage their position in relation to their consumers in terms of quality, awareness, relevance,
and competitive differentiation. While measurement entails the use of data collection techniques
and comparative analysis of brands to determine the company's position on a competitive brand
map, brand management calls for high-level corporate strategy and excellent customer service.
Regulatory restrictions helped keep competitors at bay, while proximity to potential customers
was the key competitive dimension.

But in an increasingly competitive and national financial services arena, those traditional
advantages have virtually disappeared. How well and how quickly banks strengthen and
communicate their brands will have a direct impact on their ability to attract and retain customers
in the coming years. There are multiple competitive advantages associated with strong brands-

• Strong brands result in better investment performance.

• They decrease acquisition costs since customers are more likely to repeatedly purchase a
product/service that they have come to trust and to whom they have demonstrated loyalty.

• Brands are an important means for differentiation and competitive advantage. A powerful
brand can change customer behavior, improve business economics, gain competitive
advantage and provide a clear mandate for employees

• Clients are more willing to pay a premium price for strong brands.
• Strong brand simplifies client choices. Once a client has purchased brand, he/she will not
need to go through the entire decision-making process again, but instead will rely on past
experience to guide them.

• Better pool of people will be attracted to the big brands so this is kind of benefit which a
company get in terms of better employee.

• In capitalizing on a brand’s advantage in any industry, the first company or institution to


“stake out” the territory of a specific proposition tends to preempt later entrants.

Brand management challenges in financial services-


Branded financial products in the hope that it will create a differential in the marketplace is a
myth because unlike FMCG or other products it is difficult to remember financial service
product. This is because:

• Brand management is a relatively new concept for the industry

• Brand relevance is difficult to maintain with so many client types

• The similarity of product offerings makes differentiation more difficult

• The client / advisor relationship, often the key to the industry, is hard to control

• The significant changes required may challenge the management of traditional financial
services companies

• Industry trends have made brand positioning more complex


Brand management in financial services: the Brand
Management Checklist-
The 5 questions that form the checklist are-

1. Do you know what you want your brand to stand for?


This defines a set of goals for your brand that is based on how clients should perceive the
company, how to differ from the competition, and how the brand could support the business.
2. Do the messages your clients receive reflect your brand?
Identify the messages that will best communicate the brand’s promise. Integrating these
messages across various channels, such as advertising, media/ investor relations, and
sponsorship, will ensure that your clients receive a consistent message regarding your brand.
3. Do the messages your employees receive reflect your brand?
Letters from management, e-mails, informal meetings, intranet sites, and road shows should all
be infused with key messages consistent with your brand strategy.
4. To what degree are the interactions with your clients guided by brand?
To assess your client interactions, first identify all the points where your client interacts with the
firm; assess each of these interactions with regards to the brand and determine what
improvements are necessary; finally, modify those interactions to reflect the brand promise.
5. Is brand incorporated in organizational decision-making?
Finally, check to see at what level senior management uses brand in business planning and
organizational development. It is beneficial that the five- or ten-year plan, including
product/service goals, highlight strategies that help an organization to achieve its brand goals.

Inspiration for branding a bank-

In these times of mergers and acquisitions, branding a new bank can prove both challenging and
exciting, for many reasons. Completely new corporate cultures are invented in these mergers,
coupled with the fact that many banks have shifted from personal relationships to digital
experiences. The challenge is to express the core values of the new company while providing
transactional experiences seamlessly, both physically (in branches) and online. Some of the
biggest bank in world and in India as well has gone for rebranding strategy. Some of them are
HSBC, Bank of Baroda, Bank One, Bank of America, Grossmont Bank, Home Federal Bank,
Huntington Bank and Santel Federal Credit Union. Brands are building through the strategic
integration of corporate identity, interior architecture, retail merchandising and signage
strategies. The interior design of the bank is driven by the commitment to create a warm, inviting
atmosphere, with areas for a variety of conversations – from confidential, to casual,"
A great brand has a deep knowledge of itself. Anyone can establish a brand by using focus
groups to create an "identity." "Design by a committee" may deliver consensus, but it may not be
what most consumers want the brand to be. To keep a brand alive over the long haul, banks have
to do something new, something unexpected. A great brand has design consistency. Great brands
have a consistent look, feel, a high level of design integrity, and they follow a much focused
design process. However, it’s important to see what brands don't do. They don’t allow trends that
are in conflict with their vision. Consumers are looking for something that has lasting value in a
quest for quality, not quantity.
Branding Bank of America

Bank of America is one of the world's largest financial institutions, serving individual
consumers, small and middle market businesses and large corporations with a full range of
banking, investing, asset management and other financial and risk-management products and
services. The company provides unmatched convenience in the United States, serving more than
55 million consumer and small business relationships with more than 5,700 retail banking
offices, through more than 17,000 ATMs and award-winning online banking with more than 21
million active users. Bank of America is the No. 1 overall Small Business Administration (SBA)
lender in the United States and the No. 1 SBA lender to minority-owned small businesses. The
company serves clients in 175 countries and has relationships with 98 percent of the U.S. Fortune
500 companies and 80 percent of the Global Fortune 500.
This bank had first move advantage in rebranding. It has advantage over other banks because of
its strong brand equity. Various aspects it considered while rebranding were-

• Understand Industry Dynamics


• Exploit Competitive Advantages, Choose Partners wisely
• Customers are an asset.
• Continuous Improvement is a Requirement.
• Brand Positioning

• Providing Opportunity to All Customers

The new brand positioning reflects Bank of America's business strengths and global presence,
highlighting the company's unmatched ability for enabling all its customers to achieve their goals
- from buying a first home to planning for retirement, from starting a business to expanding into
new markets.
• Launching the Campaign
Bank of America supported its new brand positioning through an integrated marketing
campaign, which included a mix of national and local television, radio, print, online and
outdoor advertising. The initial series of TV ads were premiered prior to, and during the
ABC telecast of the Academy Awards.
• Bringing Opportunity to Life
To celebrate the new brand positioning, Bank of America helped consumers in 15 U.S.
cities "wake up to opportunity" by providing coupons good for one cup of coffee from a
variety of retailers. In select markets, notable individuals who exemplify "opportunity”
were asked to join teams of Bank of America associates, to distribute hot cups of coffee
to consumers. Bank of America will announce significant charitable donations to address
most critical needs of those communities.

Branding HSBC-
Headquartered in London, HSBC is one of the largest banking and financial services
organizations in the world. HSBC's international network comprises around 8,500 offices in 86
countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and
Africa. With listings on the London, Hong Kong, New York, Paris and Bermuda stock
exchanges, shares in HSBC Holdings plc are held by around 220,000 shareholders in 119
countries and territories. The shares are traded on the New York Stock Exchange in the form of
American Depositary Receipts.
Through an international network linked by advanced technology, including a rapidly growing e-
commerce capability, HSBC provides a comprehensive range of financial services: personal
financial services; commercial banking; corporate, investment banking and markets; private
banking; and other activities. This bank is a classic example of a successful branding case. HSBC
started focusing on branding early on as a sure path for global success. The dual aspects of
global competition and the involvement of stakeholders’ funds make branding financial
institutions quite focused. The first aspect that any financial institution focuses on is building an
unquestionably good reputation and credibility for its operations. HSBC has probably done both
of those things more successfully than any of its peers. Another aspect that stands out in the case
of HSBC that can serve as a guide to any financial institution is the ease with which it has
managed its role as a global institution.
These are some of the HSBC initiatives which can indeed serve as valuable examples for other
Asian financial institutions in their branding efforts.

• HSBC has created an internal architecture that allows for proper branding

• Focused on building an unquestionably good reputation and credibility for its operations

• Making itself fully equipped to handle the many challenges involved in branding and
become one-stop-shops for financial advice and solutions.

• Successfully in categorized its businesses and focused on the strengths of each. With
individual ownership of its various units — private banking, investment banking,
consumer banking and many others

• Developed an internal leadership program that nurtures talent and grooms leaders.

• “GLOCALIZING” — a concept that even many consumer durables companies grapple to


grasp. HSBC’s many country centers makes full use of and encourages local talent.

• Advertisement campaign promoting it as “The World’s Local Bank”. HSBC has strived
to set itself apart as a bank that, while it has many global connections, is still nimble
enough to care for the needs of local customers in the ways they prefer.
Conclusion:

After completing the research study on “Importance and scope of branding in priority
banking program run by Indian and foreign banks, taking into perspective the customer
and the key features he associates with a strong banking brand”, we can confidently say that
we have understood the essence of branding in banks, especially in the priority banking
programs, meant mainly for the Preferred and Imperial customers. This project has helped us
gauge the importance of brand strategies, brand considerations and brand management to
differentiate oneself from the others in this fiercely aggressive and continuously growing banking
industry.

Through this project, we have understood several concepts that we had never really delved upon
till date. Working on this project for the last couple of weeks, a conceptual insight has been
attained in the vast world of banking. This entire study has given us an opportunity, to reach
beyond the theoretical knowledge of our textbooks and gaining a practical aspect to various
concepts in banking and branding.
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Annexures:
Questionnaire to understand client’s perception of HDFC Brand on
Domestic and Global levels:
1. Which bank do you manage your transactions with?

ICICI
HDFC
BOTH
Any other (Please specify)
If any other bank other than HDFC-

2. Why are you dealing with your bank?

Brand Equity
CASA facilities (surcharge and transaction information)
Debit Card limits
Enhances portfolio of financial solutions (Auto Loans, Loan against Shares, Demat and
Foreign Exchange services)
Customized services and personal attention

3. Rank the private banks in the order which first strikes your mind:

ICICI BANK
HDFC BANK
KOTAK MAHINDRA BANK
INDUSLND BANK
YES BANK
AXIS BANK

4. When you are investing huge money in the bank what attributes you look for

Rating on the scale on 1 to 5 (1 being least important 5 most important)

Attributes Not Average Neutral More Most


Important Importance Important Important
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
limits
Non- banking
services(e.g.
managing tours)

5. What is your concept for the financial advisory services-

I manage my own wealth


Rare consultation, once in 3 months
Periodic consultation, once a month
Regular consultation, once every 2 weeks
A personal RM for portfolio management

6. Before this survey, how often have you heard of HDFC?

I have never heard of HDFC before today


I have seen/heard about HDFC few times
I see/hear about HDFC frequently

7. If you know about HDFC, to what extent do you know about its financial services?

Rating on the scale on 1 to 5 (1 being least important 5 most important)

8. What is your general impression of HDFC bank brand?

It seems of high quality and reliable


It seems to be of average quality and reliabilty
It seems to be of low quality and reliability
A bank brand does not signify quality and reliability
Can’t say
9. Which of the following is the HDFC Brand? (Tick one Option)

10. How memorable would you rate the logo of the brand HDFC bank?

There is no brand recall


On providing cues, the logo comes to mind
Brand recall is there, but weak
It is very memorable and distinct

Rating on the scale on 1 to 5 (1 being least memorable 5 most memorable)


11. How memorable would you rate the advertising or tagline for HDFC Bank Brand?

“India’s World- Class Bank”


1 2 3 4 5

12. What types of association first comes to your mind when you think of priority banking of
HDFC bank?

Quality
Universality
Value
Service
Delivery
Consistency
Friendliness
Premier services
Brand Association

You can tick on more than one option-

13. Have you done priority banking with HDFC?

Yes No

14. If Yes-

Would you recommend it to others?


I would recommend it very strongly to others
I would rather let other clients decide for themselves
I myself is apprehensive regarding the services offered
I was not satisfied with the services offered

15. With what will you associate HDFC brand?

Credit card facilities


Relationship initiatives of bank
Reliable financial advisory
Prompt response and service delivery
Dedicated staff

16. If Yes-

Would you recommend it to others?


I would recommend it very strongly to others
I would rather let other clients decide for themselves
I myself is apprehensive regarding the services offered
I was not satisfied with the services offered
17. To what extend you consider the past financial performance of the bank before using its
services?

1- Hardly matters

5- Matters to a great extent

18. Demographic Profiling:

• Name

• Age (In years):


20.30 30-40 40-50 Above 50 years

• Sex:

Male Female

• Marital status:

Married Single

• Income Bracket(Annual)- In INR:

10, 00,000-15, 00,000 15, 00,000-20, 00,000 Above 20, 00,000

Thank you for your time and patience!!

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