Services Branding Model for Private Banks: Encompassing Corporate, Internal and External Branding Dimensions

Abstract

Services are characterised by intangibility and perishability, posing a big challenge for its marketing. Service firms need to build a strong image in the minds of consumers which will help them to become market leaders and to achieve success in the long run. This necessitates the building of a brand name, creating its awareness and working towards brand equity. Brand name not only gives an identity but also helps in differentiating from competitors. From the customers point of view brands help to identify the functional benefits, hidden trusts and commitment of the firms. Thus, firms need to work on building corporate, internal and external brand image for the firm.