So, while IDBI Bank holds the top position when it comes to TV ads, it’s SBI that has been ruling the print the world over the last year (CY2009). Since November 2008 (remember the rumour fiasco?), ICICI Bank too has hit the accelerators in terms of its advertising campaigns. In fact, data available with AdEx shows that the duration for which ICICI Bank’s TV ads met the audiences’ eyes in 2009 was 64% higher than it was for the year-ago period. “No doubt, under Chanda Kochhar the bank is trying to regain lost grounds through ads,” agrees Unni Krishnan, MD, Brand Finance India. Even Axis Bank, over the past few years, has done a commendable job in transforming itself into a strong private bank with a growing market share in corporate and retail banking. It’s that one bank that has worked really hard to improve its image, to the extent that it even went on re-brand itself (it was July 2007 when UTI Bank rebranded itself as Axis Bank). Similar is the case with HDFC Bank when it comes to enjoying credibility among consumers. In fact, it’s because of its impressive marketing efforts that the bank has once again been featured (for the fourth year in row) in the prestigious ‘Forbes Asia’s Fabulous 50’ list (2009). Even the public sector banking behemoth SBI has been fast enough in transforming its image from that of just another sarkari bank to a modern day convenience bank. While former Chairman, A. K. Purwar focused more on overseas acquisitions, current SBI Head O. P. Bhatt has gotten back the focus on Indian market, with the ‘Surprisingly SBI’ campaign. No doubt, as of now, the two private sector banks – HDFC Bank and ICICI Bank – are leading this success run, but then, as Marshall Goldsmith’s punchline goes, they need something else to stay there in their leadership positions. And what are those? Well, good luck to them, I have my own ghosts and my own ‘what got me here won’t get you there’ problems to worry about now – Goldsmith be damned!
Manish K Pandey
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Source : IIPM Editorial, 2010.
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
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