You are on page 1of 5

RESEARCH TITLE

“An Analysis on Brand Effectiveness of Eastern Bank Ltd.”

EXECUTIVE SUMMARY

This report is done on one of the prime contributor in our Banking and Financial Industry, Eastern
Bank Limited (EBL). This report will represent the present scenario of the EBL and also some
important factors regarding Brand Effectiveness of EBL. Main objective of this report is to identify
different products of EBL, their features, their merits and demerits, different analysis of the products
and their description and the brand effectiveness of Eastern Bank Ltd.

This report can be divided in to two parts. First part of this report deals with EBL’s overall structure,
their goals, achievements, management system etc. All the products’ description has provided in the
Second part of the report. How a product has helped in creating the brand value is discussed here.

EBL has gone through a restructuring stage where the traditional ‘Branch Banking System’ is
gradually discarded and being replaced by a Centralized System. Any financial institution primarily
seeks to maximize its profit so that it can fuel up its growth in a steady rate and concurrently, such a
business unit looks to serve its pool of customers with as-best-as-possible services. Being the third
generation bank in Bangladesh EBL is no exception to that. Better products and better services deem
to be the champion prize of each organization like EBL. However, at the present scenario,
competition is so fierce that one cannot claim acclaim and supremacy only through product
prominence and service excellence. Therefore, beside core operating activities, market focus and
according activities are required. Branding comes into being in order to make such things happen.
This rationale has clearly persuades EBL to incorporate brand issue in its vision statement.

At the concluding part, all the findings have listed and recommendations have drawn. These findings
are found from my practical knowledge of working in the bank, different data sources provided by the
bank and so on. I try to give some recommendations. These recommendations are not exhaustive but
they can be considered on a priority basis.

BACKGROUND OF THE STUDY


As part of the Internship Program of Masters of Business Administration program requirement, an
internship report has to be prepared, after the completion of my one-year academic MBA
program.I was offered a job as an officer in Brand and Marketing Department in Eastern
Bank Ltd. So instead of doing my internship I am working as a permanent staff for Eastern
Bank Ltd.I am doing my internship report under the guidance of my faculty advisor
Ms.Naheed Rabbani (Assistant Professor, Department of Banking, Faculty of Business
Studies, University of Dhaka). In Eastern Bank Limited, I am working under the supervision
of Mr. Ziaul Karim, Head of Brand and Marketing, Eastern Bank Limited.

OBJECTIVES OF THE STUDY

The main objective of the study is to find the brand effectiveness of Eastern Bank Ltd. by using Brand
Matrics Tool.Besides this objective there are some more objectives.

The objectives of the study are as follows:

1. Provide a brief overview of Eastern Bank Limited.


2. Provide a brief overview of the operations and services of Eastern Bank Limited.
3. Provide an overview of the different departments of Eastern Bank Limited.
4. Provide an overview of the different products of Eastern Bank Limited.

LITERATURE REVIEW

A brand is a product, service, or concept that is publicly distinguished from other products,
services, or concepts so that it can be easily communicated and usually marketed Berger and
De Young, (1997). According to Fofack (2005) “A brand name is the name of the distinctive
product, service, or concept.” Bloem and Gorter, (2001) says “Branding is the process of
creating and disseminating the brand name. Branding can be applied to the entire corporate
identity as well as to individual product and service names.” The Dictionary of Business and
Management defines a brand as: "a name, sign or symbol used to identify items or services of
the seller(s) and to differentiate them from goods of competitors."Signs and symbols are part
of what a brand is, but to us this is a very incomplete definition.Walter Landor, one of the
greats of the advertising industry, said: "simply put, a brand is a promise. By identifying and
authenticating a product or service it delivers a pledge of satisfaction and quality." In his
book, 'Building Strong Brands' David Aaker suggests the brand is a 'mental box' and gives a
definition of brand equity as:"a set of assets (or liabilities) linked to a brand's name and
symbol that adds to (or subtracts from) the value provided by a product or service.” "A brand
is the most valuable real-estate in the world, a corner of the consumer's mind"(Colin Bates).

METHODOLOGY

Exploratory research technique has been used.The data collection, data analysis, and questionnaire
designs of the report are as follows:

Data collection

Both primary and the secondary data have been collected to prepare the report. The details of these
sources are as below:

Primary Sources

Primary data for this report have been collected through the conversation & discussion of different
customers of EBL. On the job observation of the customers has helped to know information of brand
effectiveness of EBL.

Secondary Sources

The secondary sources of data are:

 Annual Report of Eastern Bank Limited


 Internal Publications of Eastern Bank Limited
 The website of Eastern Bank Limited (www.ebl-bd.com)
 The website of Bangladesh Bank (www.bangladesh-bank.org)
Designing of Questionnaire

The questionnaire is structured, undisguised. Questions are of open end types.

Data processing

Brand Matrics Tool has been used for measuring the Brand effectiveness of EBL.In general,
brand metrics typically fall into two categories: performance metrics and perception metrics.
Performance metrics help assess how brand-building activities directly drive overall business
results, and range from price premium to loyalty, to the lifetime value of a customer.
Perception metrics monitor more intangible aspects of brand such as relevance, consideration
and awareness. They help gauge the effectiveness of brand-building activities, which should
still be linked, although less directly, to overall business performance.

This brand metrics will show how the brand can be better managed while providing the
rationale for more effective brand and business resource allocation. Then the business as a
whole can reap the benefits of having a consistent and measured approach or scorecard for
gauging the brand’s overall performance.

Without a formal connection between business and brand metrics, it becomes just the mind-
set that a brand is nothing more than a tagline, logo or advertisement.

Therefore, the essence of brand metrics in course of brand effectiveness measurement is so


important.

Sampling

Convenient sampling will be used with a good chance of sampling error because of very small
observation.

LIMITATIONS OF THE STUDY

Due to their confidential nature, detailed technical matters regarding the procedures, the rates offered
for different services etc. are not within the scope of this study.

REFERENCES

1. Sarah Jane Gilbert (April 26, 2010), ‘When Other Companies Compete Like
Crazy,Dare to Be Different’, Oxford University Press, UK.
2. Kevin Lane Keller, Brian Sternthal, Alice M. Tybout (2002): ‘Three Questions You
Need
to Ask About Your Brand’, Harvard Business Review.
3. Douglas B. Holt. (2002), Brands and Branding, Harvard Business Review.
4. Vijay Vishwanath and Jonathan Mark (1999) “Your Brand’s Best Strategy”, Harvard
Business School.
5. The website of Eastern Bank Limited (www.ebl-bd.com)
6. http://www.ebl-bd.com/upload/full.report.pdf (browsed on 22nd August,2010)
7. http://www.thefreedictionary.com/s/BrandEffectiveness.html (browsed on 22nd
August,2010)
8. http://en.wikipedia.org/wiki/brand and branding.html (browsed on 22nd August,2010)
9. http://www.bangladesh-bank.org/mediaroom/corerisks/crrisks.pdf (browsed on 22nd
August,2010)