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Brand Name Banks: Business Strategy an urgent need?

Brand Name Banks: Business Strategy an urgent need?

Blog article entry on: Nov 10, 2009

” In Vietnam, the main challenge that local banks have is the consistency of the message. As they do not have a single clearly-defined brand proposition, the audience may get confused about what the bank’s brand stand for. So what I advice local banks in particularly is they need to go through a discipline process to defind the brand proposition.

Not only focusing on communicating the product’s benefit but the bigger loyal emotional connection that they are trying to build with the target audience. In the long term, having a strong clear emotional connection with the audience will build trust that will be difficult for their competitors to copy quickly.

 

In summary, bank’s must have a clear brand positioning that builds an emotional connection with the audience and differentiates them from the competition over the long term. “

– Chris Elkin –

Vietnam Financial Review: Click here to download PDF
Marketing Vietnam: Click here to download PDF

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