Comprehensive Brand Study for a Regional Bank
Situation
- Regional bank wanted to better understand
- Its brand identity among its senior executives, customers, and prospects
- The target consumer segment’s decision making, issues, concerns, and expectations
- Objective to provide fact-based and actionable recommendations to create a brand strategy for the next five to seven years
Solution
- Three-phase qualitative and quantitative research program
- In-depth interviews with members of the bank’s management team
- Focus groups among customers and non-customers in three metro areas
- Customer and prospect quantitative research
- Telephone survey of 1,200 retail and small business customers and non-customers
Results
- The research identified competitive strengths and weaknesses related to brand perceptions, determined markets of greatest opportunity, and provided direction for the brand’s personality and positioning
