Brand Management and Communication Strategy in a New Market Context: A Case Study of Ahadu Bank S.C
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Date
2024-04
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Addis Ababa University
Abstract
In today's fast-paced market environment, effective brand management and communication are crucial for the success of Ahadu Bank S.C. With a diverse range of stakeholders, including 32 banks, 18 insurers, and 48 microfinance institutes, the bank's organizational structure is complex. The bank's workforce comprises 125 managerial staff and 600 non-managerial staff, totaling 733 employees.
This study examines the brand management and communication strategy of Ahadu Bank S.C, a new entrant in the Ethiopian banking sector. The study aims to identify the tools used by the bank, challenges faced, and the effectiveness of its social media usage. The survey had a response rate of 86.5%, with 346 completed forms analyzed using descriptive statistics.
The study found that Ahadu Bank S.C's brand management and communication strategy was effective in building brand equity, with higher scores for brand communication strategy, brand positioning, and market characteristics. The analysis also showed significant correlations between independent variables and brand equity.
The study highlights that Ahadu Bank S.C's brand management and communication strategy has been successful in building brand equity, with a strong focus on brand communication, positioning, and market characteristics. The study also emphasizes the importance of maintaining a favorable brand image, executing communication strategies, addressing obstacles, and harnessing social media platforms.
The study concludes that effective brand management and communication strategies are crucial for Ahadu Bank S.C's success in the new market. The study recommends that the bank should conduct regular market research to understand customer needs and preferences, develop targeted marketing campaigns to reach a wider audience, enhance social media presence by posting regular updates and engaging with customers, and implement effective communication strategies to address customer concerns and build trust.
Overall, this study provides valuable insights into Ahadu Bank S.C's brand management and communication strategies in a new market context, highlighting challenges and opportunities faced by the bank in establishing its presence and reputation in the Ethiopian banking sector.