Influence of slogans on brand preference:A case of barclays bank of Kenya customers

Abstract

As businesses strive to maintain a competitive advantage in the marketplace, slogans influence brand preference by helping differentiate the product or the company from its competitors. According to Harris (2002) branding might be one of the last remaining resources by which financial institutions can achieve a sustainable competitive advantage and a critical success factor. Many banking organizations have adopted slogans/taglines as a way of building and marketing brand to their customers. Barclays Bank has had a slogan reading: “It's our business to know your business”; this creates the link between the customers and the bank and shows concern between the two parties. In the banking industry, however, there has been no known study on influence of slogans on brand preference. This study was motivated by this gap and sought to make attempts to bridge it. The objectives of this study were to determine the influence of slogans in brand building by Barclays Bank of Kenya and their customers; to establish the effects of slogans in Barclays Bank of Kenya marketing. The survey used descriptive research design to achieve these objectives. The survey found that slogans have a very powerful role in enhancing brand building; this was due to the fact that most of the respondents indicated that they preferred Barclays bank to other banks, who offer almost the same services. The study also found out that the creativity of a slogan and whether the slogan stands out from the competitors are some of the key factors that are considered as important in relation to a bank’s choice and preference. Equally, consistency of a slogan with the brand and the benefits contained in the slogan were considered to be important