Ordos Rural Commercial Bank Brand Building Research

With our country’s continuous deepening of reform and opening up as well as the accelerating of the transformation in the mode of the economic development, the financial markets in Inner Mongolia has made giant and remarkable strides. However, compared with the joint-stock banks at home and abroad, there is still a lack of brand building among the banks in Inner Mongolia. Brand building is a must for the local banking in Inner Mongolia to be competitive in the intense market competition.Erdos Rural Commercial Bank is a local commercial bank restructured from Rural Credit Cooperatives. In spite of its outstanding achievement, it still falls far behind in brand building compared with other joint-stock commercial banks. Its disadvantage mainly lies in the lack of brand strategies. Therefore, it is of great practical meaning for us to carry out further research on the brand building of Erdos Rural Commercial Banks.Based on the elaboration of the theory of brand in banking, this paper mainly analyzes the current development situations of Erdos Rural Commercial Banks under the methods of comparative study, integration of theory with practice, ect. The author holds the opinion that from the perspective of conforming to the change of the voice of customers, adapting to the developing patterns in banking field as well as the realization of the sustainable development, it is quite necessary and urgent for Erdos Rural Commercial Banks to work more on their brand building. Then, through the analysis of the process in brand building, the author found that the main problems consist in the mismatching between its competitive abilities and its brand building, the less prominent index ranking in its comprehensive abilities, the unclearness of the brand positioning, the shortage of brand in service, the over-emphasis of localness among the current brands as well as the singleness in means of advertising brands. In the following part, the paper gave its point on the brand positioning of Erdos Rural Commercial Banks based on the Pyramid Model about Brand Resonance in strategies of brand positioning, that is,’the most excellent bank at home with first-class service and a modern commercial bank with the most modern service concept’. As for ways of brand building, the author also made detailed statements and gave some relevant suggestions from the aspects of the true value of a brand, the cultural cultivation in brand building, the means of publicizing brand as well as the management of brand in cases of crisis. He also put forward the opinion that Erdos Rural Commercial Banks should take the idea ’Converge key values and create a bright future’as the core of its brand value. Some creative ideas were also pointed out by the author such as making use of micro blog to advertise our brand in the process of publicizing.