Branding as a Factor in Increasing the Bank’s Competitiveness in the World Market

• Main Authors: Shkodinа Iryna V., Lysak Victoria V.
• Format: Article
• Language: English
• Published: Research Centre of Industrial Problems of Development of NAS of Ukraine 2017-10-01
• Series: Bìznes Inform
• Subjects: brand-management; branding; brand; brand creativity; brand value; banking institutions
• Online Access: http://www.business-inform.net/export_pdf/business-inform-2017-10_0-pages-348_353.pdf

The article discusses the branding of banks in the world market for banking services in the context of fierce competition between financial institutions. The stages of brand formation were researched as a basis for building the bank's commodity policy. The main elements of brand to improve the market position of bank have been identified. The indicators for building strong bank brands have been reviewed and the efficiency of the contemporary marketing strategies has been determined. The most efficient innovative marketing strategies for branding are determined (subscription business models, chat bots, e-commerce, digital targeted advertising) to improve the market position of bank in today’s environment. The need to develop new internet marketing tools, original and risk projects in order to create efficient content and to excel the competitors. Prospects for further research in this direction is to consider e-commerce as an innovation marketing strategy that should become an integral part of branding.