BRANDING BANKS FEATURES

Abstract

In the article there are considered theoretical approaches to the essence of definitions «bank corporate brand» and «bank brand management». Besides, peculiarities of functions of bank brand manager and bank marketing manager are found, providing clear distinction between these specialists in the bank. Object of research are bank branding peculiarities. The subject of research is the processes of formation, maintenance and implementation of brand management in domestic banks. Purpose of the article is a theoretical study of the essence of the bank brand and of the process of formation and implementation of brand management system in domestic banking institutions’ activity. For the purpose of research, we have identified the following tasks: to clarify the definition «bank corporate brand» and its components; explore the essence of the concept «bank brand management»; distinguish features of marketing manager and brand manager of the bank. As a result of the research definition of «bank corporate brand» was clarified as a combination of visual and verbal elements of the brand which transmits its competitive advantages to target groups: employees, investors, intermediaries, the final consumer, and also the state and society. The concept «bank brand management» is defined as «management activity for creating, maintaining and preserving the bank's brand, managing its value through development and implementation of effective brand strategies». Suggested components of the system of brand management of the bank are brand creating, maintaining and preserving subsystems that will influence the generation of value of its brand in the long term through the development and implementation of effective brand strategies. The division of functions between brand manager and marketing manager is substantiated and stages of transformation of structural component of bank management system are suggested for the introduction of brand management system.