Influence of Re-branding on Customer Perceptions: a Case of National Bank of Kenya
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Date
2013Author
Gikonyo, Christine N
Type
ThesisLanguage
enMetadata
Show full item recordAbstract
Rebranding means the change of the originally formulated brand to a new brand. It can
Therefore be a major and deep-seated change or it can be a minimal modification of the
Brand. The current study sought to establish the rationale, process and consequences of
Rebranding national bank of kenya (nbk). The study also assessed the influence of
Rebranding on customer perception. This study was based on three theories. These are
Kotter’s 8-steps model, lewin’s change model and the contingency theory. This study
Was carried out using a case study approach. This study utilized primary data which was
Collected using an interview guide administered to the director, marketing and corporate
Communications and fifteen relationship managers of nbk from fifteen branches in
Nairobi. Data analysis was through content analysis. The results also established that in
The rebranding, nbk changed it corporate colours, logo, systems, organizational culture
And the corporate identity. Moreover, the study established that the rebranding process
Involved seven key practices including developing the vision and plan for the rebranding,
Involving all key stakeholders, effective communication, training of employees, provision
Of resources and monitoring and evaluation of the implementation process. Nbk received
Various benefits from the rebranding including increase in operating profits, revenues and
Customer numbers. Successful culture change had enabled the bank to appeal to new
Customer segments including the youth and businesses. The study also established that
Rebranding at nbk had positively affected customer perception. The bank received
Positive reviews from customers, the public and international firms. The positive reviews
Mostly came due to the new culture of customer centricity, technology adoption and
Focusing on diverse segments of the commercial banking market. The bank was hence
Able to shed the previous old-fashioned and bureaucratic tag that it had been long
Associated with. The study makes the following recommendations. First, rebranding
Should ensure that the new brand identity is aligned to the needs and aspirations of
Customers. Secondly, the company should maintain control of the rebranding process.
This would ensure that there are enough resources to guide the process to the end
Effectively. Third, in rebranding, the customer should always be in the mind of the
Company. The customer experiences the brand and makes the decision whether the
Rebranding is successful or not. Lastly, management should only consider rebranding
When the value of existing brand is dwindling or there are key changes in the
Environment that demands rebranding. In conclusion the study established that nbk
Rebranded due to continued poor performance, poor corporate culture, to implement its
Regional strategy and to shed the government association. The bank aimed at improving
The turnover through repositioning itself as an all rounded bank serving diverse segments
Of the market.
Publisher
University of Nairobi
Rights
Attribution-NonCommercial-NoDerivs 3.0 United StatesUsage Rights
http://creativecommons.org/licenses/by-nc-nd/3.0/us/Collections
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