Rebranding Union Bank of India

            
 
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Case Details:

Case Code : MKTG285
Case Length :10 Pages
Period : 2008-2009
Pub Date : 2012
Teaching Note : Not Available
Organization :Union Bank of India
Industry : Banking
Countries : India

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"The transformation started eighteen months back with a project named NAV NIRMAN1 we have harnessed the combined might of people, process, and technology - building relationship through people and delivering with speed and efficiency enabled by superior application of technology."2

-M V Nair, Chairman & Managing Director, United Bank of India, in September 2008

"The challenge was to embark on customer centric exposition to get the reason for the change. We had to reflect the dynamic face of the brand without destroying what lies at the core." 3

-Madhukar Kamath, MD & CEO, Mudra Group4, in September, 2008

Introduction of a New Logo: Nav Nirman...

On September 1, 2008, one of India's largest public sector banks, Union Bank of India, introduced its new logo. A press release by the bank explained the built-in capabilities that were represented by the logo, achieved by transformation of process and human resources at the organization.5 The logo also reflected the competencies created and the future orientation of the bank. The logo comprised two interlocked 'U's. The interlocked logo represented the integrity, security, strength, and partnership of the bank and was called the 'Union Bank Interlock'. The red color at the base stood for passion while the blue at the top represented the bank's commitment to service.

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The logo was designed by the Mudra Group's 'Water' team. The revamping exercise, called 'Nav Nirman' i.e. a new or fresh incarnation, was executed by the group. The motive behind the campaign was to establish Union Bank of India as a technically sound and service-oriented brand rather than just an orthodox public sector bank. The campaign was intended to create awareness in the minds of the Indian customers and allow the bank to reposition itself as a more customer-oriented bank from which customers could expect the kind of service quality available at its private sector rivals.

In going in for the revamping exercise, Union Bank had taken a leaf out of the book of UTI Bank which was rebranded as 'AXIS Bank' on July 30, 2007.6 The rebranding helped Axis Bank reposition itself as a more customer-centric bank that was technically advanced. Industry observers said that Union Bank of India was following the same path and that youth were the target customers. Union Bank of India decided to retain its tagline, "Good People to Bank With" but put the emphasis on getting closer to customers and sharing emotional bonds with them. The bank felt the revamping would help in this regard, but industry observers wondered whether such a rebranding exercise was necessary at all.

Background Note - Next Page >>


1] Nav Nirman was a revamping and brand re-building project by Union Bank of India, initiated by M V Nair, Chairman and MD, Union Bank of India.
2] Payal Khandelwal, "Union Bank Undergoes Makeover", www.campaignindia.in, September 2, 2008.
3] Payal Khandelwal, "Union Bank Undergoes Makeover", www.campaignindia.in/Article/225165,union-bank-undergoes-makeover.aspx, September 2, 2008.
4] The Mudra Group is a renowned advertising group in India.
5] "A Corporate Strategic Announcement- Launch of New Logo by Union Bank", www.unionbankofindia.co.in,, September 1, 2008.
6] UTI Bank, a leading private sector bank In India rebranded itself into Axis Bank on July 30, 2007.


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