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.