UTI Bank to AXIS Bank: A Corporate Rebranding Exercise


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Case Details:

Case Code : MKTG183
Case Length : 19 Pages
Period : 2006-2007
Pub Date : 2008
Teaching Note :Not Available
Organization : Axis Bank
Industry : Banking
Countries : India

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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.

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Uti Bank by any Other Name...Contd...

The campaign that built on the theme of identical twins to put forward this message was launched in multiple media channels including television (TV), radio, print, Internet and outdoor media. The bank also leveraged on its 2,500-odd ATM locations spread across the country to communicate the change in name. In addition to the integrated marketing campaign, the bank communicated the change in name to its customers personally well in advance. To prevent its customers from falling victim to phishers5 who could take the advantage of any confusion arising out of the rebranding, the bank cautioned them against responding to any email claiming to come from the bank, that asked for personal/account details of the customers.

Industry watchers said that, though there were instances of banks rebranding following a merger and acquisition (M&A) deal, this was the first instance where a bank was voluntarily rebranding itself by going in for a new name and shedding a well-recognized brand. They noted that the company was spending a huge amount of money on the rebranding exercise - more than three times its marketing expenditure in 2006. Some of them felt that by going in for the new brand name the company would lose the quasi-governmental connotation that came with the UTI brand...

Excerpts >>


5] Phishers try to fraudulently acquire sensitive information such as usernames, passwords and credit card details, by posing as a trustworthy entity in an electronic communication. This criminal activity which uses social engineering techniques to dupe the victims is called phishing.

 

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