Brand identity of a selected South African bank
By virtue of existence, a brand has a history, and probably an envisaged future. Collectively these variables are understood to be central to a brand’s identity formulation. However, there are various other elements that may inform brand identity construction. This study investigated brand identity formulation of a bank brand in the South African banking sector. In essence, the current study probed variables or elements that inform brand identity formulation, in this service oriented sector. It is understood that individual human identities can collectively influence the formulation of an institution’s brand identity, among other factors. Therefore, a question arises whether academic brand identity theory and practice are congruent in service sectors, particularly the South African banking sector. Dominated by few major banks, the South African banking sector is characterised by an oligopolistic market structure, where services provided are seen to be generic. Hence, the current inquiry on the practice (or lack thereof) of brand identity theory for differentiation, and distinction purposes. In this regard, Nedbank was used as a reference institution. In essence, Nedbank brand identity was investigated.