Managing the image of your bank: the glue that binds
Abstract
Banking in Britain has suffered a crisis of identity in recent years. The British public’s favourable attitude towards the British clearing banks has declined along with a perception that standards of service have fallen and that building societies offer better standards of service. Argues that marketing and image research studies should be given the same attention as the monthly financial figures, should be treated with the same respect and should feed into strategic decision making. Suggests that financial institutions need to focus on five areas of activity, namely: strategic direction; legal threats to survival; capital management; succession; and protection and promotion of the corporate reputation. Outlines the benefits accruing from image and gives guidelines as to why and how a bank’s corporate image should be managed.
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Several studies stressed the relevance of financial service company's reputation/image, service quality performance, fairness, and affective experiences as strategic factors in explaining customer retention, repurchase intentions and loyalty.
“Several studies have stressed the relevance of financial service company’s reputation/image (Boyle 1996; Worcester 1997; Devlin 1997; Nguyen and LeBlanc 2002; Wang et al. 2003), service quality performance (Siddiqui and Sharma 2010; Tsoukatos and Rand 2006), fairness (Page and Fearn 2005) and affective experiences (Hellier et al. 2003; Taylor 2001) as strategic factors in explaining customer reten”
From Health insurance policy renewal: an exploration of reputation, performance, and affect to understand customer inertia (2022) · cites this paper as Worcester 1997
Cites
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Visual identity: trappings or substance?
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Realtime Response Measures Redefine Advertising Wearout
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Bloemer, J., de Ruyter, K., & Peeters, P. (1998) · International Journal of Bank Marketing · doi:10.1108/02652329810245984 · Cited by 804 · see citing works
Kautish, P., Khare, A., & Sharma, R. (2022) · Journal of Marketing Analytics · doi:10.1057/s41270-021-00134-7 · Cited by 25 · see citing works
- Authors
- Worcester, R. M.
- Corresponding author
- Worcester, R.M.
- Venue
- International Journal of Bank Marketing
- Publisher
- Emerald
- Published
- 1997-09-01
- Volume
- 15
- Issue
- 5
- Pages
- 146-152
- ISSN
- 0265-2323 (ISSN-L)
- OpenAlex
- W2072560194
- Cited by
- 101
- References
- 9
- Citations by year
- 2024: 3 · 2023: 4 · 2022: 4 · 2021: 6 · 2020: 2 · 2019: 2 · 2018: 7 · 2017: 3 · 2016: 4 · 2015: 7 · 2014: 7 · 2013: 2 · 2012: 6
- FWCI
- 9.00
- Type
- journal article
- Language
- en
- Open access
- closed
- Locations
- International Journal of Bank Marketing (publishedVersion)
- Topics
- Social Sciences › Business, Management and Accounting › Strategy and Management › Corporate Identity and Reputation
- Social Sciences › Business, Management and Accounting › Accounting › Banking Sector Performance and Management
- Social Sciences › Business, Management and Accounting › Marketing › Marketing and Advertising Strategies
- Keywords
- corporate image, bank marketing, image research, public perception of banks, service standards, building societies, corporate reputation, strategic decision-making, capital management, succession planning
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