Repositioning and Rebranding - Financial Services Marketing

Once a company has developed a positioning strategy, it can be difficult to change it. Schwab, for example, first established its identity as a discount alternative to full-service brokerages. When it wanted to move up scale in order to acquire more high-net-worth customers, it bought private bank U.S. Trust rather than try to reposition the Schwab brand name. When First Union bought Wachovia, it was happy to switch to the Wachovia name because the First Union name was attached to bad publicity about poor customer service in previous mergers.

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