Tougher competition in the banking system and the fiercer clash over customers and implicitly market share are slowly starting to push banks to resort to new promotion and communication methods in order to manage more accounts.
Banca Romana pentru Dezvoltare (Romanian Bank for Development) - Groupe Societe Generale, the second bank in the system, decided, at a time when the banking market is going through a period of recoil, to invest over 1.5 million euros in a new promotion campaign and a new rebranding process, mainly destined to underline the fact that the bank belongs to the French group, its majority stakeholder.
Practically, from now on, Banca Romana pentru Dezvoltare- Groupe Societe Generale will be promoted as BRD - Groupe Societe Generale, highlighting the name of the French group. Even though not entirely overtly, the bank's officials on Tuesday admitted that the new promotion campaign of the bank, largely conducted through TV spots, was also meant to make the bank's commercial operations more dynamic.
"This campaign is launched in the context of a new stage in the development of BRD, as well as following the rebranding decision made at the level of Societe Generale group. The rebranding process and the new promotion campaign are also destined to make BRD's activities more dynamic on the commercial segment. We hope to consolidate our presence on the market in 2004, and we also hope that what we have started today would coincide with an improvement in the quality of our products and services," stated Patrick Gelin, general manager of BRD-Groupe Societe Generale.
About one million euros of total funds will be earmarked for the rebranding campaign that will comprise the entire network of the bank in Romania, while 500,000 euros account for the costs of the advertising campaign the institution will conduct at prime time through television channels. The chairman of BRD Board, Bogdan Baltazar, added that the adoption by BRD of the new image "happily coincides with the end of the first stage in the bank's development following the privatisation concluded four years ago" and that it paved the way for the future development of the bank.
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