Sarmayeh Bank is the sixth private bank in Iran and the first private bank with the largest initial capital in the country. This bank started its activity in 2004, but it faced economic problems and lost a large part of its credit in less than ten years.
In 2016 (the time of the start of the project), the new management structure of Sarmayeh Bank started changes in the brand identity structure with the intention of restoring the lost reputation of the brand. Due to the lifting of some foreign sanctions, a relative opening had been created in the economic environment of Iran, and the managers of the Sarmayeh Bank at the time considered it appropriate to establish new branches in other countries. In this regard, it was necessary to change the characteristics of the brand in accordance with the development approach of Kalan Bank. Wend International Company should be invited to formulate strategies for Sarmayeh Bank in line with the mood of an international brand. Rob Janoff, a well-known designer and designer of the Apple logo, was Vand’s international partner in this project.
The study phase (Market Research) of the project was very complete and detailed. Many in-depth studies and field interviews were conducted to evaluate the brand position in the minds of Iranian audiences and to identify the mental image of the customers towards Kafimal Bank. Identifying the characteristics expected by customers from banks and generally identifying the mental image of customers from Iranian banks was one of the important parts of the project studies.
The NPS index for different Iranian banks was evaluated and compared. Also, in wide benchmarks, 20 top banks of the world were studied and the position of Sarmayeh Bank was evaluated in comparison with international competitors and other Iranian private and state banks. Studies on logos were also Sarmayeh and detailed and in-depth interviews were held with middle and senior managers and the board of directors.
The results of the project’s detailed studies showed the strategists of the Wend team that the first association of Sarmayeh Bank among the 181 participants in the survey was its bad reputation. In-depth studies of the project said that about one tenth of the respondents remember the embezzlement of the Farhegian Fund when they hear the name of the Sarmayeh Bank. For this reason, in formulating brand strategies, the brand’s move towards acquiring indicators such as stylishness, modernity and authenticity in identity and personality was defined to facilitate the move of Sarmayeh Bank towards internationalization.
Dr. Omid Moghimian
Rob Janoff – Strategist
Touraj Saberivand – Strategist
1395
Sarmayeh Bank is the sixth private bank in Iran and the first private bank with the largest initial Sarmayeh in the country. This bank started its activity in 2004, but faced with economic margins. In 2016, the new management structure of the Sarmayeh Bank, with the intention of reviving the lost reputation of the brand, started changes in the brand identity structure, and new branches were established in other countries. be established. Wend International Company should be invited to develop strategies for Sarmayeh Bank in line with the mood of an international brand. Rob Janoff, a well-known designer and designer of the Apple logo, was Vand’s international partner in this project.
Vand’s strategists conducted many in-depth studies and field interviews to evaluate the brand’s position in the minds of Iranian audiences and identify the mental image of the customers towards Sarmayeh Bank. In a wide range of benchmarks, the top 20 banks in the world were studied and the position of Sarmayeh Bank was evaluated in comparison with international competitors and other Iranian private and state banks. Studies were also conducted on logos and detailed and in-depth interviews were held with middle and senior managers and the board of directors.
Studies were also conducted on logos and detailed and in-depth interviews were held with middle and senior managers and the board of directors. Based on the results of in-depth studies of the project, about one-tenth of the respondents remembered the embezzlement of the Farhegian Fund when they heard the name of the Sarmayeh Bank. Therefore, in formulating brand strategies, acquiring and strengthening indicators such as stylish, modern and authentic in identity and personality were put on the agenda of brand managers, and the steps of the branding project to create an international identity were defined.