On Management Tactics Of Brand Equity Of Commercial Banks In China

Brand equity management is of great importance for multinational enterprises’ development. From the perspective of customer base, brand equity could be defined as the response of the customers toward name, symbol which are related to a product or service, these management could provide the potential profit for firm’s future growth. Generally, brand equity is regarded as the intangible assets that helps the company to establish the relation with the customers; this connection is conducive to find the timely customer information and enhance the brand awareness of a product or service for Chinese commercial banks. To this extent, brand equity management is beneficial to maintain the customer loyalty and improve the managerial skills for Chinese commercial banks. With the opening up of Chinese financial market, brand equity management is essential for Chinese commercial banks to enhance their competence for capturing more market shares. Although Chinese commercial banks obtain the great performance in the Interbrand ranking and The Banker evaluation, the gap in service quality, product innovation and customer satisfaction remains obvious. It is the reason why the paper is going to focus on how to enhance the brand equity of Chinese commercial banks.This study aims to find the influencing factors of brand equity of Chinese commercial banks. The conceptual framework of this study is based on David Aaker’s model, which includes five dimensions, namely, brand loyalty, brand awareness, perceived quality, brand association and other proprietary brand assets. In order to obtain the information of Chinese customers’ feelings toward the brand equity building of Chinese commercial banks, it conducts a survey with questionnaire to explore the current condition of Chinese commercial banks’branding. According to the result of the survey, integrating the theory of David Aaker, the paper would provide some concrete suggestions to address the problems in brand equity building for Chinese commercial banks.Based on the collected data analysis, the paper attempts to describe a map to clarify the function of each tactics in strong brand equity establishment, which is convenient to take the suggestions into practice. Additionally, it will offer the four categories, eight perspectives as the concrete tactics to improve each dimension of the bank brand equity management, which are brand position, brand segmentation, customer purchasing behavior focus, new product extension, marketing management integration, new media development, global branding and cross-cultural branding.