ABSTRACT
This
study out whether brand strategy has any link with corporate identity. The
study sample consists of 90 respondents, spread across the three level of
management Viz: Top middle and low level of management. The sampling technique
was done on stratified random base with a special attention to corporate
organization which prompt the choosing of Intercontinental Bank Plc and Zenith
Bank Plc as the case study, using the questionnaire as the principal data
collection instrument. The data collection instrument was validated and also
made to pass through the test or reliability for the effectiveness of the
result obtained.
The
econometric tools of correlation and regression were used for data analysis and
complemented by various test such as, T-set, F-set the coefficient of
determination and so on.
The
study find out that their exist a correlation/association/relationship between
brand strategy and corporate identity and it is recommended that organizational
policy should be directed toward the enhancement of its brand for effective
achievement of organizational goal.
This
is because weak association the brand strategy and corporate identity as reveal
by the study.
TABLE
OF CONTENT
CHAPTER
ONE: INTRODUCTION
1.0 Background of the Study
1.1 Statement of Problem
1.2 Objectives of the Study
1.3 Research Question
1.4 Research Hypothesis
1.5 Justification of the Study
1.6 Scope and Limitation of the Study
1.7 Research Methodology
1.8 Plan of the Study
CHAPTER
TWO: LITERATURE REVIEW AND THEORETICAL FRAMEWORK
2.0 Introduction
2.1 Link Between Business Strategy and Brand
Strategy
2.1.1 Inspiration
2.1.2 Justification
2.1.3 Substantiation
2.2 Organizational Brand Management and Brand
Expression
2.3 Brand Identity
2.3.1 Building Brand Identity
2.3.2 Source of Brand Identity
2.4 Brand Personality and Brand Positioning
2.5 The role of Marketing on Brand
2.6 Brand Reputation, Brand Affinity and Brand
Recognition
2.6.1 Brand Reputation
2.6.2 Brand Affinity
2.6.3 Brand Recognition
2.7.0 Historical Background of Intercontinental Bank
Plc.
2.7.1 Historical Background of Zenith Bank Plc
CHAPTER
THREE: RESEARCH METHODOLOGY
3.0 Introduction
3.1 Research Design
3.2 Population of the Study
3.3 The Study Area
3.4 Sampling Design
3.5 Type of Data and Instrument of data
Collection
3.6 Validity and Reliability
3.7 Model Specification
3.8 A Priori Expectation
CHAPTER
FOUR: DATA ANALYSIS AND INTERPRETATION
4.0 Introduction
4.1 Analysis of Respondents Data
4.2 Model of Elimination
4.3 Restatement of Hypothesis
4.4 Interpretation of Result
CHAPTER
FIVE: SUMMARY, CONCLUSION AND RECOMMENDATION
5.0 Introduction
5.1 Summary of Findings
5.2 Conclusion
5.3 Recommendation
References
Appendix
(Questionnaire)
CHAPTER
ONE
INTRODUCTION
1.0 BACKGROUND OF THE STUDY
Nowadays
branding is the most crucial aspect among companies’ activities. A brand
consists of more parts than the visible features such as names and logotypes.
No matter if the company is a bank or a toy store it is the brand itself that
determine if they will succeed or not. It may seem as a simple equation but to
identify what makes a brand succeed is rather devious since two complete alike
brand, do not exist (Haig, 2005).
Branding
is most commonly associated with assets such as messaging, identify, design and
of course the product or service itself.
However,
a brand is more than these tangible assets. A brand is more about the emotional
and psychological feelings that enable a person to relate to the brand (Johns,
2004). According to John Hargel 2004, the historical view of a brand was that
you can rely on what we are offering because of our brand attributes”. Today,
what old review is replaced with a more customer of branding that is “I know
you better than the competitor’s and you can trust me to put together the right
product or services to meet you individual needs” (John 2004).
A
brand increase the value of a product or services by differentiating them from
the competition and creates positive associations and form emotional
relationships with the customer. Brand provides business with the means to free
themselves from, for example, constant price competition, to increase the value
of their services and value their marketing costs. Philip Cotler once said that
“if you are not a brand, you are a commodity. The price of everything and the
low cost produce is the only winner” (Green wood 2006).
In
discussing branding or better still brand strategy, this research work consider
the Nigerian’s banking industry to be an interesting market where various New
generation Bank are the major actors. The banking industry today is different
than before, since interest is growing and the services that banks are offering
through the interest are increasing. The products that banks provide are almost
similar and that makes positioning hard for them as customers may understand
the banks to be similar overall.
But
because banks are acting in different sub market it is hard to state their
general market share as well as whole. Starting their result and company size
is therefore easier and more convenient for getting a quick picture over their
market position. Rapid changing are ongoing in the banking industry and there
have been mergers and acquisitions in the industry recently. When company
merge, brand issues are a focus point since they must mix their value and also
create a new image that appeals to their existing and potential customers (Econ
report, 2007). Intercontinental Bank and Zenith Bank Plc are one of the leading
new generation bank in Nigeria and that is why they are considered more suitable
for conducting a comparative case study on the brand strategy as an effective
tool for corporate identify. Another aspect to be considered is that both Banks are going global and also that the
underlying philosophy behind their corporate theme is excellence.
1.1 Statement of Problem
Today
it is generally accepted that brand can be valuable assets. One of the brand
owner’s primary tasks is to arose the customer’s commitment for the brand. That
is because a low commitment traditionally cannot create a strong and
sustainable brand loyalty (Melin, 1999). A brand is more than just names and
logotypes.
A
brand defines the identify of an organization, product or services that needs
to be based on a unique idea and told through a compelling story. The brand needs
to have the ability to connect hilt potential customers and form positive
emotional bonds. A brand cannot be built on empty claims. The organizational
needs to actually live its brand (Greenwood, 2006).
Creating
a corporate brand is a long and complicated process and due to that many
companies get it wrong. There have been cases where organization have developed
a new fancy slogan and hope it will mean something to consumer and employees.
It is almost as bad when a company simply designs a new logotype and put it on
every product, hoping it will create the vision of a corporate brand (Hatch
& Schultz 2002).
Pies
and Trout (1993) say that to succeed in an over complicated society a company
must create a position in the receiver’s mind and that is a position that takes
into consideration, not only the strength and weakness fore the company itself
but those of the competitors as well. They are also arguing for that
positioning of a brand about to create a place at the market and in the
consumer’s mind.
A
good and effective brand identify should be connected to the company’s vision
and it organizational culture and values.
It
is used to create understanding and buy-in throughout the organization. A brand
identify that is too value and general so almost of any kind of communication
towards the customers can be considered to be suitable is helpful (Aaker,
1999). Corporate branding has risen in importance but there is not much
research explaining the determination and effects of corporate branding.
In
making managers aware of how corporate branding can bring about identify and be
beneficial to their company it is important to have insight into both
determinants and effects of branding and how the brand is communicated (Kramer,
Nerjen & Smith 2003).
Brandy
identify is something constructed through which can and sometimes should be
changes, for instance, if identify has become weak or diffuse. A company,
multinational, private or public irrespective of the industry it operates has
to consider if their brand, product and positioning shall be adapted to
national or regional markets. The uniform picture of the brand allows that some
commercial messages, advertisement can be used in all markets, advertisements
can be used in all markets and the commutation hereby becomes very cost
efficient (Melin & Urde, 1990).
It
is against this background that this research study is set out to examine
critically how brand strategy can be used as an effective tool for corporate
identify.
1.2 Objective of the Study
The
broad objective of the study is to examine the impact of brand strategy on
corporate identity specifically the study aims to:
·
Investigate how company’s explain their brand
identity and how they use brand identity when positioning them self.
·
Highlights the major difference between brand
identity and image.
·
Examine the various brand strategy available
to bank in Nigeria.
·
Also investigate the relationship between
company’s brand and company’s vision and values.
1.3 Research Questions
- What is the brand’s particular vision
aim at?
- What is a particular brand
fulfilling?
- What are the signs that make it
recognizable?
- What are the link between brand
identity, brand positioning, brand affinity and brand recognition.
1.4 Research Hypothesis
The
following Hypothesis shall be tested in the course of the study.
H0:
There is no significant relationship between brand strategy and corporate
identity.
H1:
There is significant relationship between brand strategy and corporate
identity.
1.5 Justification of the Study
As
rightly observed by management scientist that there is a remarkable wall off
difference between corporate identities, brand identity and brand image.
Corporate identity is concerned with the visual aspect of a company’s present.
Brand identity is a combination of visual, auditing and other sensory
components create recognition, present the brand promise, provide
differentiation, create communication synergy, and are proprietary.
The
rationale behind this research study is multidimensional. Firstly, it tends to
analyze the basis component of brand strategy at it relate to corporate
identity. When most people think about a brand’s identity, they usually think
about name, the logo and maybe the tag line. The research work will in if
course show that the identity consist so much more than that.
Given
the competitive business environment as a result the globalization this study
will also let the companies know that they have to work hard on the consumers
experience to make sure that what customer’s see and think is what they want
them to.
1.6 Scope and Limitation of the Study
The
only constrained a limiting factor of this study remain unwillingness of the
respondent to give necessary information in the questionnaire.
1.7 Research Methodology
This
research work majorly relies on primary source of data which will be sourced
using a well structured questionnaire. To compliment the primary data,
secondary data will also be used and this will be sourced from business
journals, textbook as well as relevant websites.
The
data gathered will be use to generate the raw score which will subsequently be
analyze.
1.8 Plan of the Study
This
research work has been divided into five chapters:
Chapter
One comprises the introduction of the research work which entails the
background of the study, the statement of the problem, objective of the study,
the research question and hypothesis, the research methodology, scope and
limitation of the study and the plan of the research in the study while chapter
two state the literature review, the theoretical and conceptual framework of
the study and the historical background of the organization in study and
chapter three entails the study area, population of the study and population
distribution of the study, it also reveals the research design used and the
sample size and procedure used in the course of the study.
Chapter
four covers the data analysis and interpretation of the data collected through
the questionnaire and secondary data used. Chapter five is on summary,
recommendation and conclusion of the study.
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