RBS Brand Image And Positioning Marketing Essay

Brand is the foundation of modern corporate developing, in conditions of some brand image or slogan, people can find out the shadow of a special culture behind the brand. Based on an understanding of modern consumers' needs and cultural orientation, the best brand creators should walk before consumers in order to satisfy different target consumers. In 1969, the RBS Group took the merger with the National Commercial Bank of Scotland. Then, the Group's logo made some changes and began to use "the symbol of four inward-pointing arrows known as the Daisy Wheel", which stands for "the accumulation and concentration of wealth by the Group". The squatness of the condition intends to show stability, while "blue is chosen due to its connections with the Scottish flag, and because blue can represent reliability and consistency". (cited by RBS - Heritage FAQs)

In order to keep a competitive advantage when compete with competitors, it is important to boost service quality Continuously, enhance efficiency, meet the needs of different customers, add more contents into brand, while distinctions and adopt a number of ways to strengthen brand awareness and loyalty and establish the corporate culture. For instance, when the CEO of RBS announced that "the company is getting the term 'Scotland' from some of its branding because the country is associated with whisky and golf. " (Hope 2003) Strengthening brand image can help the lender keep a warm relationship using its customers. As the most effective link between your commercial bank and their customers, brand image and slogan can quickly communicate convey the core value system to their customers. Such as RBS's slogan, "MAKE IT HAPPEN", it can inevitably attract customer's interest. Since 2006 the make of the Group has been turned to the initials-"RBS", representing "its retail banking brand as the Royal Bank of Scotland". That is supposed to emphasize the retail bank as a Global financial services player predicated on a national bank. (sources coming from Automated Trader Magazine)

Brand effectiveness and recommendation to RBS

"RBS in London reveals how much adverse behaviour can be driven with a strongly negative brand", pointed out by Hensley 2009. People might be inspired into action by a graphic of RBS although they could be extremely dissatisfied with it. The make of RBS is facing the challenge to redeem themselves with the mass with their customers and get another chance. The bank has made massive losses that its credibility as a financial adviser and a store of value is mostly weakened. To rebuild its brand the lender will need to convey, through some positive actions, they have regretted their sins and will act in several ways in the future. To become more credible, they have to take actions to avoid future failings, however it might take risks to further reduce the trust of the clients and stakeholders. (Hensley 2009)

A successful brand is strong and will lead to consumer desire its service or product this is the power of the brand. A solid brand can also make effectiveness not limited to the corporate but also for the complete national. In another word, a solid brand will also become a symbol of national strength, symbolic of the nation. Although the business's nationality has been diluted, however the brand still let consumer associate its nationality. For instance, Coca-Cola can't be changed forever as its U. S. brand image, Mercedes - Benz never changes its image in people's mind as it is a German brand's image. Prior to the market meltdown took placed in '09 2009, RBS brand generate positive effectiveness not only for the bank but also for Scotland and UK, but because it not performed well in the recession year in comparison to its two rivals HSBC and Barclays, so its performance damaged its brand reputation and made a poor effect for the whole country. Moreover, RBS ranked 54th at the very top 500 worldwide banking brands, slipping from 48th location to 54th position(table 1). When the credit crunch took place, the bank had to accept the government's help, which already imposed a negative influence on its brand effectiveness.

Currently, almost all of countries are dealing with the financial crisis, so many financial corporate want to get customers back, and RBS also adopt some measures to attract customer's sight. For instance, they have to reevaluate their brand value, because Brand value is exactly what effectiveness the brand can bring, as an advanced international commercial bank, RBS must pay more attention how to boost its brand value. From then on, brand identity is another vital aspect when reevaluate its brand value. The nature of the brand recognition is brand differentiation. An effective bank's brand must be different to other brands. While the competition in the financial industry becomes more fiercely, the financial products look a lot more similar. So creating difference can make the merchandise stand out.

Finally, Brand relationship can't be ignored by the corporate, since it can help the business keep communicating with customers. Brand relationship means an enterprise must check it out best to protect brand relationship between the bank and customers. A solid brand must gain affinity from consumers. As a national bank, RBS should do more to get other's trust. Because the intrinsic value of the banking sector is provide financial services to customers, so RBS need to provide better service and financial product compared to its competitors, and additionally, it may focus more on create new products and do more advertising. For instance, RBS has redesigned its advertisements on TV to attract customer's sight, but RBS's brand development need to pursue a long-term strategic goal for enterprise development. Its brand positioning should be different from its other strategy because Brand strategy should be implemented with the bank's entire process.

Therefore, the most crucial feature because of its brand positioning is continuity, this means RBS need to keep buying order to determine and maintain a good brand image after the market meltdown.

Though RBS can be an international financial corporate, but after the market meltdown, it need to do more to rebuild its brand effectives, to be able for doing that, it offers hired US brand strategy consultant, Lippincott (kirish, 2009), to help RBS repair the damage and rebuild its brand image. However, you will be charged big money to rebuild its brand image when the brand is damaged.

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