Brand

Question 1

What is marketing management?

Answer 1

Marketing management attempts to control the market demand through analysis, planning, implementation, and control of programs designed to create build and maintain mutually beneficial exchanges and relationships within target markets.

Question 2

What are the four steps of creating a marketing plan?

Answer 2

1. Situation analysis
2. Objective setting
3. Target market selection
4. Strategy formulation

Question 3

What are the four different marketing strategies?

Answer 3

Product, price, promotion, and distribution

Question 4

What is the ultimate goal for any bank marketer?

Answer 4

To establish a unique brand in advance that brand through every effort of the entire organization.

Question 5

What is a brand?

Answer 5

A brand is what the marketplace feels about your organization.

Question 6

What is branding?

Answer 6

Branding is the process by which the bank seeks to influence the marketplace so that they feel certain way about the brand it is an intentional effort based on single idea of what the brand represents stands for it means to both Bank and the marketplace.

Question 7

What are the four challenges that impact things when it comes to Brand management?

Answer 7

1. Isolated and in control - The customer now dictates the terms of how they will interact with a brand. Banks must provide pre-transactional value to become relevant to the customer.
2. Commoditization - Banks have converge towards one standardized personality template in order to mitigate any risk. No one bank brand stands out above another. Bank marketers should look past industry standards and build a unique brand that is not like other banks.
3. Focus on the balance sheet - Minibans have the tendency to start at the balance sheet and work backwards to the point of the customer. Instead the bank should begin with the customer first and work backwards to the balance sheet.
4. Lack of brand management

Question 8

What are the four steps of the branding process

Answer 8

Discovery, define, deliver, develop

Question 9

What is the process of brand discovery?

Answer 9

Begin the brand discovery process with thoughtful questionnaires surveys and focus groups to hear the different voices that impact the brand.

Question 10

What is the goal of brand discovery?

Answer 10

The goal of brand discovery is to truly find out what makes your bank different than the competition and then elevate that to a point of distinction.

Question 11

What is the goal when defining the brand?

Answer 11

The goal when defining the brand is to make it clear what the organization stands for and why it exist. The brand promise should be interpreted for different positions because the application of the promise might look different for each position.

Question 12

What are the five elements of a brand language?

Answer 12

Brand promise, brand mission, brand vision, brand values, and brand story

Question 13

What are the two components of defining a brand?

Answer 13

Defining the language of the brand and defining the appearance of the brand.

Question 14

What are six way to deliver the brand internally?

Answer 14

1. Brand book
2. Brand card
3. Intranet
4. Brand Orientation
5. Brand Champion & ambassadors
6. Awards and rewards

Question 15

What are some metrics you can use when developing the brand?

Answer 15

1. Top of mind awareness
2. Balance sheet and income statement
3. Promotional return on investment (ROI)
4. Digital & Social

Question 16

What is the difference between a logo a brand and branding?

Answer 16

A logo is a symbol used to identify an organization.
A brand is what the marketplace feels about the organization.
Branding is the process by which the bank seeks to influence the marketplace so that I feel a certain way about the brand.