Brand, Identity and Reputation: Exploring, Creating New Realities ...
Brand, Identity and Reputation: Exploring, Creating New Realities ...
Brand, Identity and Reputation: Exploring, Creating New Realities ...
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Actually, we don‘t feel constrained by our image at all. People already know our br<strong>and</strong>. They trust us. They know we<br />
are not going to go away tomorrow (laugh). So, we can be friendly….(Marketing Manager, Bank A).<br />
Our bank looks more like a shop…you know, a glam shop where you can drink coffee, taste cookies, local food, have a<br />
cup of tea. We are thinking about introducing new services all the time. We change the music about…I don‘t<br />
know…about every few months. We like to change according to special festivals <strong>and</strong> events. We have installed special<br />
plasma screens to show music videos, not just the same old boring news…our customers are hip <strong>and</strong> young (at least<br />
they want to be, so why not….?). We have special rooms to help mature customers feel pampered as well (Customer<br />
Relations Manager, Bank B).<br />
We get very good training. Customer service, product training, everything…I think atmosphere is part of the training,<br />
actually. Atmosphere helps us enjoy our jobs <strong>and</strong> we pass this on to our customers. Of course, when things go wrong,<br />
nothing helps! But we have to control our emotions <strong>and</strong> atmosphere does that also…(Relationship Manager, Bank B).<br />
I like this bank. It doesn‘t feel intimidating. I also get very good service. Everything is well-designed, I think. The<br />
couches are so, so, so comfortable – they‘re designer (couches), I think…(Customer, Bank B).<br />
Actually, banking is an experience, isn‘t it? So, why shouldn‘t it be like…quite fun? We used to have to queue…which I<br />
didn‘t like much, but now we sit down instead <strong>and</strong> someone comes to ask us what we want, sometimes they even offer<br />
drinks, tea, coffee…it‘s still professional but less scary…(Customer, Bank A).<br />
[Take in Fig. 1 about here]<br />
Summary: Analysis <strong>and</strong> Implications<br />
Our research provides evidence to show that some banks in developed Asian economies are no longer content to be<br />
perceived as staid, stern <strong>and</strong> self-centred. Their marketing efforts are increasingly geared towards making customers<br />
‗feel comfortable‘ <strong>and</strong> even ‗trendy‘.<br />
Our findings suggest that retail banks are beginning to ‗mimic‘ conventional retail stores in the way the latter seek to<br />
create <strong>and</strong> develop br<strong>and</strong> experiences. Music, lighting, customer service – all are elements of a multisensory experience<br />
which these two banks were offering to customers.<br />
There may also be significant benefits in involving customers more directly in the corporate br<strong>and</strong> image-building of<br />
banks. How far can they push the friendly image, however? As products <strong>and</strong> services become more differentiated<br />
between banks, are customers seeking more diverse banking experiences? It may be too much of a stretch to speculate<br />
that they are, but banks need to consider how br<strong>and</strong> differentiation can continue to evolve while they preserve a certain<br />
level of consistency, st<strong>and</strong>ardization <strong>and</strong> performance which shareholders <strong>and</strong> other government agencies expect.<br />
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