hey i forgot, i asked few other students which i will share with u... interviewer was asking why is

hey i forgot, i asked few other students which i will share with u... interviewer was asking why is branding required for banking

 

Following the post. Waiting for the answer from the other members.

 

one guy took 5-8 mins to answer this but the interviewer was not satisfied it seems

 

Strong Brands carry customer's trust.. That's why their valuation is so high in the eyes of the customers.. Because of the fact that banks deal with Finances of people the sense of trust is of utmost importance. Hence Branding is essential for banks. So that customers are assured that they have their finances handled by trust worthy bankers of a particular Bank.

 

Branding is neccessory for banking also because competition is growing in a fast pace, therefore, we have to position the brand name, symbol and design in the minds of people so that we can give stiff competition to our competitors and by the help of branding we can increase selling of product ; services very easily.

 

As of now, all public sector banks are good brands, now we have to spread awareness about banking products ; services, and we have to prove why our bank's products are more beneficial than others.Brand is the front face of the company, if branding is done effectively then it is easy to attract more ; more customers.