THE ROLE OF COLOR LOGO AND BRAND NAME IN BUSINESS, AN ESPECIAL FOCUS ON BANKS

COURSE ID: ENG105 SECTION: 10 PREPARED BY:

NAME: NAFEES REZA

CONTENTS

1. Introduction 03 2. Definition of brand and logo 03 3. The importance of color in logos 03 4. Some multinational banks and their logos 05 5. Brand, color and logo of the local banks 08 6. Captions of the local banks 10 7. Banks that changed their logos 11 8. Marketing and promotional strategies 12 9. Conclusion 14 10. References 15

INTRODUCTION
Brand identity and color logo give the company an established and professional feel. This increase the customers trust in the products or services the company offer. Generally a powerful brand identity is important, people find it easier to recall image than text. The logo represents that picture can be remembered and identified with greater ease than thousand words describing company. Logo graphics can bring about awareness of the products or services that a company offer in cases where the company name is not self-explanatory.

DEFINITION OF BRAND AND LOGO

Brand is a set of perceptions and images that represent a company, product or service. A brand's value is merely the sum total of how much extra people will pay, or how often they choose, the expectations, memories, stories and relationships of one brand over the alternatives. Logo is a graphical mark used to identify a company, organization, product or brand. A business logo appears on all of the company letterhead, communications, marketing and advertising pieces of a business as a graphic representation or symbol for the company and the logo is typically the first thing a reader may notice before reading the text. Logos are an example of intangible assets because they hold value, but not in a physical form. A wellrecognized logo can increase a company's goodwill.

THE IMPORTANCE OF COLOR IN LOGOS

Color is essential component of branding, or creating a recognizable logo. Choosing the colors for a logo is vitally important part of creating a logo. Studies have proven that different colors have unique effects on the brain. Colors mean different things in different places. An example of this is white, which in some Asian communities is considered as the color of death, but in US it is considered a clean or sleek color. Now a list of colors with descriptions of their meaning is given below: RED: Red means power, hunger and energy and suggests a bold, competitive and go getting attitude. It is particularly prevalent on anything designed to appeal to man. In the Far East, the color also symbolizes good luck and red color is consequently used by Asian companies such as Canon, HSBC and Sharp.

PINK: Pink means innocence, youth, excitement, romance and it is most frequently found in young girls products and on Valentines Day. WHITE: White is pure and clean. It means innocence, peace, protection and even new beginnings. GREEN: Green is the color of money, nature and in many cultures, jealousy. While its money connotations are exploited by companies such as Britains biggest bank Lloyds TSB, the color is also used by petroleum giant BP, for whom it is represents an environmental stance. BLUE: Blue is worlds favorite corporate color and evokes coolness, calmness and authority. It also denotes intellect, trustworthiness and dependability. This is why it is a favorite with sectors such as banking and insurance. For about 60% of all company logos are blue. Example: IBM, General Motors, Ford, Pepsi, Wal-Mart and Microsoft. YELLOW: Yellow is youthful and fun color. It means optimism, light, sweetness and warmth. Many countries business telephone directories are yellow and the color is also popular with construction companies. Example: DHL BROWN: Brown suggests solidity, neutrality and straightforwardness. In US it suggests comfort, elegant, stable and nurturing. Perhaps the most recognizable corporate brown is that of the United States delivery company UPS. However, the company actually started using the color in 1917 for the simple common sense reason that brown vehicles didnt show the dirt picked up from dusty roads. PURPLE: Purple has been the color of leadership and luxury since the Roman Empire, when only the imperial family were allowed to wear it. Purple is rarely used on its own as a corporate color. The big exception to this is the confectionary giant Cadbury, who originally chose purple in the late 19th century because it was said to be Queen Victorias favorite color. ORANGE: Orange is bold bright and lovely. It catches the eye. The phone company previously known as Microtel was so dedicated to the color that it simply renamed itself after it. BLACK: Black is bold, sleek, classic, powerful, dramatic and sophisticated.

SOME MULTINATIONAL BANKS AND THEIR LOGOS

Multinational banks, by definition, are those that physically operate in more than one country. Some multinational banks and their logos are given below:

The Honkong and Shanghai Banking Corporation Limited: HSBC is a

British multinational banking and financial services company headquartered in London, United Kingdom but founded in China. As of 2011 it was the world's second-largest banking and financial services group and second-largest public company according to a composite measure by Forbes magazine. HSBC started operations in 1996. The bank primarily focuses on urban areas and has branches in most areas of the capital city of Dhaka; it also has branches in the cities of Chittagong and Sylhet. The bank also has a good number of ATM booths in the cities present; it also has booths in most five star hotels. The HSBC logo, known as the Hexagon, is derived from the Hongkong and Shanghai Banking Corporations 19th Century house flag, itself derived from the Scottish flag which is the angular cross that Saint Andrew (the patron saint of Scotland) was crucified upon.
Logo: HSBC

Standard Chartered Bank: Standard Chartered PLC is a multinational financial

services company headquartered in London, United Kingdom with operations in more than seventy countries. It operates a network of over 1,700 branches and outlets and employs around 80,000 people. Standard Chartered has been operating in Bangladesh for over a hundred years. After the partition of the subcontinent in 1947, Bangladesh became East Pakistan; thereafter SCB started its business in 1948, in the port city of Chittagong. Standard Chartered Bank is doing exceptionally well in Bangladesh. This logo is made of initials of its name. Here S is blue colored and C is green. Here blue color refers coolness and green color indicates money units.
Logo: Standard Chartered

CITIBANK: Citibank, a major international bank, is the consumer banking arm of

financial services of the giant Citigroup. Citibank was founded in 1812 as the City Bank of New York, later First National City Bank of New York. As of March 2010, Citigroup is the third largest bank holding company in the United States by total assets. Citibank has retail banking operations in more than 100 countries and territories around the world. Citi has established a strong presence in Bangladesh, It now has 4 branches, 4 service outlets and employs over 180 people. Citi's clients in Bangladesh comprise both public and private sector institutions. The Citibank logo offers security. By incorporating an arc over the lowercase t in Citibank that have strong and powerful red umbrella sheltering and taking care of its trustworthy patrons.
Logo: Citibank

COMMERCIAL BANK OF CEYLON: Commercial Bank of Ceylon PLC (CBC)

is one of the leading commercial banks in Sri Lanka with 213 branches and more than 500 ATM's. It has been rated as the Best Bank in Sri Lanka by "Global Finance" for the 13th consecutive year and also as the Bank of the Year by "The Banker" Magazine on seven occasions. The bank has a subsidiary in Bangladesh. Commercial Bank of Ceylon entered the banking business in Bangladesh in the year 2003. Commercial Bank of Ceylon has developed a network of nine branches, two offshore units, six SME centers and four offsite ATMs. Commercial Bank logo made of initials, which are c and b. The color of logo is blue which refers trustworthiness.
Logo: Commercial Bank

BANK ALFALAH LIMITED: Bank Alfalah Limited is a private bank in Pakistan

owned by Abu Dhabi Group. Bank Alfalah was incorporated on June 21, 1992 as a public limited company under the Companies Ordinance 1984. Its banking operations commenced from November 1, 1992. On May 16, 2005 Bank Alfalah formally took over the Bangladesh operations of Shamil Bank of Bahrain for US $17.88 million and renamed it to Bank

Bank Alfalah logo is blue colored which refers trustworthiness, and there is a sign of the globe in the logo and there is a capital letter A in the middle, which stands for the initial of Alfalah.
Logo: Bank Alfalah

ICIC BANK: ICIC Bank is an Indian diversified financial services

company headquartered in Mumbai. It is the second largest bank in India by assets. The bank has representative office in Bangladesh. i is used in ICIC bank logo which is the first letter of its name and has red and orange color background.
Logo: ICIC Bank

HABIB BANK: Habib Bank is the largest bank in Pakistan. In Bangladesh it started to
function in 1976. It has 5 branches in Bangladesh. Habib banks logo is green colored.
Logo: Habib Bank

NATIONAL BANK OF PAKISTAN: National bank of Pakistan

is one of the largest banks in Pakistan. It commenced banking operations in Bangladesh as a foreign commercial bank on 31 August 1994 with a total paid up capital of BDT 100 million.
Logo: NBP

JPMorgan Chase Bank: JPMorgan Chase & Co. is an American multinational

banking corporation of securities, investments and retail. It is the largest bank in the United States by assets and market capitalization. The bank is extending its Asia Pacific footprint, with a new flagship Bangladesh representative office to provide financial institution ("FI") clients with enhanced banking services backed by the firm's innovative suite of global solutions. JPMorgan Chase Banks logo reinforces trust. The repetitive symbol establishes a sense of familiarity which makes us feel comfortable trusting them with our money.
Logo: JPMorgan Chase bank

BRAND, COLOR AND LOGO OF THE LOCAL BANKS

Some local banks are given below:

BANK ASIA: Bank Asia Limited started its service with a vision to serve people with
modern and innovative banking products and services at affordable charge. Being parallel to the cutting edge technology the Bank is offering online banking with added delivery channels like ATM, Tele-banking, SMS and Net Banking. The logo is made of initials of its name, and the full logo is blue colored.
Logo: Bank Asia

AB BANK: AB Bank Limited, the first private bank was incorporated in Bangladesh on
31st December, 1981 as Arab Bangladesh Bank Limited and started its operation with effect from April 12, 1982. AB bank's logo is red colored and defines the color and culture of Bangladesh.
Logo: AB Bank

STANDARD BANK LIMITED: Standard Bank Limited (SBL) was incorporated as

a Public Limited Company on May 11, 1999. SBL has introduced several new products on credit and deposit schemes. Standard Banks logo exists with green, red and yellow color and this logo is made of initials of its name.
Logo: Standard Bank

EASTERN BANK LIMITED: With a vision to become the bank of choice and to be
the most valuable financial brand in Bangladesh. Eastern Bank Ltd. (EBL) has begun its journey in 1992. Eastern Banks logo is made of initials of its name. In this logo E, B and L are in blue, green and yellow color.
Logo: Eastern Bank

EXIM BANK: Export Import Bank of Bangladesh Limited was established in the year
1999. This Bank started functioning from 3rd August, 1999. Exim Banks logo is derived from its name. The color of this logo is derived from our national flag.
Logo: EXIM Bank

MERCANTILE BANK LIMITED: Mercantile Bank Limited emerged as a new

commercial bank to provide efficient banking services and to contribute socio-economic development in the country. The Bank commenced its operation on June 2, 1999. Mercantile Banks logo originated from its name as because the logo contains M which is the first letter of its name. this logo is blue and green colored.
Logo: Mercantile Bank

THE CITY BANK LIMITED: City Bank is one of the oldest private Commercial
Banks operating in Bangladesh and started their operations in 1983. The city banks logo is red and silver colored. The red and silver shape means a chess board. The Chessboard stands for wisdom & vision.
Logo: City Bank

UNITED COMMERCIAL BANK LIMITED: United commercial bank started

their journey in mid 1983. UCB has got ability to establish one of the largest networks of 116 branches among the first generation banks in the private sector. United Commercial Banks logo made of initials and this logo is red colored.
Logo: UCB

SOUTHEAST BANK LIMITED: Southeast Bank Limited is

a private commercial bank in Bangladesh. It was established in 1995. Southeast Banks logo is derived from its initials which are S and B. where S is blue colored and B is pink.
Logo: Southeast Bank

MUTUAL TRUST BANK LIMITED: The Company was

incorporated on September 29, 1999 under the Companies Act 1994 as a public company limited Mutual Trust Banks logo means mutual relation. The color of logo is derived from our national flag.
Logo: Mutual trust Bank

CAPTIONS OF THE LOCAL BANKS

BANK ASIA
For a better tomorrow

MUTUAL TRUST BANK

You can bank on us

SOUTHEAST BANK LIMITED

A bank with vision

UNITED COMMERCIAL BANK

United we achieve

THE CITY BANK LIMITED

Making sense of money

MERCANTILE BANK LIMITED

Efficiency is your strength

EXIM BANK
Together towards tomorrow

EASTERN BANK LIMITED

Simple math

STANDARD BANK LIMITED

Setting a new standard in banking

PRIME BANK LIMITED

A bank with a difference

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BANKS THAT CHANGED THEIR LOGOS

Some banks changed their logos to keep pace with the technology and new generation. Some examples of logo changing activities are given below:

Commonwealth Bank: This bank changes their logo in the early 90s.

Figure: Old commonwealth Bank logo

Figure: New Commonwealth Bank logo

THE CITY BANK LIMITED: The city bank limited changes there logo.

Figure: City Banks new logo

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MARKETING AND PROMOTIONAL STRATEGIES

Different banks have different marketing and promotional strategies to pursue their vision. Some of the leading banks marketing and promotional strategies are given below:

STANDARD CHARTERED BANK: They aspire to be the world's best

international bank, leading the way in Asia, Africa and the Middle East. They focus on building deep and long-standing relationships with their clients and customers, and constantly look to improve the quality of their products and services. They try to focus on basic banking, balancing the pursuit of growth with a disciplined management of costs, risks and keeping a firm grip on liquidity and capital. As they work for their publicity, they sponsored Liverpool time.

HSBC: HSBC's brand is one of the great success stories of modern marketing.
Since 1998 we have operated under a single brand name combined with the graphic hexagon logo. The new business strategy for HSBC, unveiled in May 2011 by the CEO Stuart Gulliver is now reflected in the latest work in their advertising campaign. Some of their most recent examples of their new campaign are given below: In the future food chain and the supply chain will merge. In the future, even the smallest business will be multinational. In the future, investors will need to be explorer.

CITIBANK: Citibank works tirelessly to serve individuals, communities,

institutions and nations. Their strategy is to work like one time with one goal and serve their clients and stakeholders. They try to satisfy their clients through innovation.

EXIM BANK: EXIM Bank was formed with the aim to serve the millions of
small and medium enterprises (SMEs) in the country. They try to promote their service by keeping dept charges at 2%. They sustained growth in small and medium enterprise sector.

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CITY BANK: City Bank is one of the oldest private Commercial Banks
operating in Bangladesh. City Bank promotes innovation and automation with a view to guaranteeing and enhancing excellence in service. Their strategy is to offer wide array of products and services that differentiate and excite all customer segments.

DUTCH-BANGLA BANK LIMITED: Dutch-Bangla Bank started

operation is Bangladesh's first joint venture bank. They serve three customer groups: people, businesses of all sizes, and institutional investors. For each of these groups, they provide core financial services. They brought modern banking services into this field. Their strategy is to deliver financial services to the customers.

AB BANK: AB Bank is known as one of leading bank of the country since its
commencement 29 years ago. Their strategy is to give the best priority to their customer demand and through their endless effort they assure the best satisfaction to their customers.

BANK ASIA: Bank Asia has been launched by a group of successful

entrepreneurs with recognized standing in the society. They try to set high standards of integrity and they try to bring total satisfaction to their clients, shareholders and employees. They think that they can promote their services by maintaining high standards.

SOUTHEAST BANK LIMITED: Southeast Bank is run by a team of

efficient professionals. Their strategy is to provide service with high degree of professionalism and use of modern technology and promote products and service at competitive pricing.

MERCANTILE BANK LIMITED: Their strategy to achieve positive

Economic Valued Added each year. They try to be market leader in product innovation and one of the top three Financial Institutions in Bangladesh in terms of cost efficiency.

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CONCLUSION
Brand name and logo are important in business. They convey information and emotion of a company. Banks are public related organizations; they need to convince their customers, stockholders and so on. Bank logos and their captions attract the public community to the banks promotions and strategies. So the bank logos are not for the outlook only, they also reflect the inner meaning and expectations with goals achievements as well.

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REFERENCE

www.hsbc.com HSBC annual report 2011

www.standardchartered.com Bank Asia annual report 2007

Mercantile bank annual report Citibank annual report 2011
www.mutualtrustbank.com www.bangladeshtrades.com/banks-in-bangladesh/foreign-banks-inbangladesh.html www.southeastbank.com.bd www.abbank.org www.ucbl.com www.thecitybank.com.bd www.eximbankbd.com

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