Question

Topic: Student Questions

Branding And Services

Posted by Anonymous on 2/8/2005 at 12:11 AM ET 100 Points
HELP I am really stuck!!

how can a bank use branding strategies to overcome the challenges of the unique characteristics of services??

i think branding can help a bank overcome problems associated with service intangibility by using strategies like trademark protection, brand name and brand mark design because these symbols and logos enable consumers to identify and distinguish the firm’s offerings from its competitors.
An effective brand name, pictorial or even colour design can help a bank conquer display and promotional difficulties because they vocalize and visualize the company’s services, allow for differentiation and development of physical presentation of the services they provid....also word of mouth helps to build brand reputation thereby increse the tangibility of services

however, i am really stuck i cant relate branding with the others inseparability, inconsistency and perishability

the challenge for inseparability is the inseparable interactions between staff and customers, -- strategies can use internal marketing ...but how does this relate to branding ?

challenges of inconsistency is standardisation and quality control. Strategies can use technology development For example, banks invented the ATM machines and Internet banking that provides consistent, standardized transaction service. Inconsistency can also be reduced through training because employees will be able to rely on specified and standardized policies.---how can i relate this with branding?

challenges if perishability is managing demadn and supply, cna use pricing strategies to even out demand during high peak low peak times...


i know the marketing challenges and marketing actions for each but i cant relate them with brnading !! please help..it seems to be all it affects is intangibility....
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RESPONSES

  • Posted by Peter (henna gaijin) on 2/8/2005 at 1:35 PM Accepted
    If a product or service is bad (inconstant/ whatever), branding can help overcome this perception. But this is very challenging as the product/service is a big part of the brand.

    If service is inconsistent, this will be reflected in the brand's reputation. Using brand building advertising, new image, etc. can help reduce the perception of bad service, but can not remove the negative brand perception. Perhaps the greatest action that can improve the brand is to spend the resources to fix the service problem, instead of on traditional branding activities.
  • Posted by Chris Blackman on 2/9/2005 at 9:13 AM Member
    Can I suggest you take a walk up and down Queen Street, visit several banks, look at the POS inside and external signage, look at use of slogans and straplines for products, and make a comparison matrix to compare the brands in use in NZ today?

    I think you'll find some are doing it well, others unconvincingly.

    Of course the marcomms is only part of the branding strategy, but it's the mosty highly visible part therefore has the most impact on consumers.

    Hope this helps.

    ChrisB
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