An assessment of rebranding strategies and their effectiveness: A case study of UBA Plc in Kaduna State
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- NGN 5000
Background of the Study
Rebranding is a strategic process that involves changing a company’s identity through modifications in name, logo, design, or messaging to reflect a new vision, attract a different audience, or respond to market changes. Successful rebranding can rejuvenate a company’s image, improve customer perceptions, and drive growth (Abubakar & Yusuf, 2023).
UBA Plc, one of Nigeria’s leading financial institutions, has implemented several rebranding initiatives to remain competitive in the dynamic banking sector. In Kaduna State, these efforts include modernizing its branch designs, enhancing digital banking platforms, and revising its brand messaging to appeal to younger and tech-savvy customers (Olawale & Musa, 2024).
Despite its potential benefits, rebranding poses challenges such as customer resistance to change, high costs, and the risk of losing existing brand equity. This study assesses the effectiveness of UBA’s rebranding strategies in Kaduna State, focusing on their impact on customer perception and business growth.
Statement of the Problem
Although UBA Plc has invested in rebranding to enhance its market position, the effectiveness of these strategies in Kaduna State remains unclear. Customer resistance, inadequate communication, and inconsistent brand experiences may hinder the desired outcomes of rebranding initiatives (Okafor & Bello, 2023).
This study evaluates the effectiveness of UBA’s rebranding strategies, analyzing their impact on brand perception, customer loyalty, and market performance in Kaduna State.
Objectives of the Study
- To assess the impact of UBA’s rebranding strategies on customer perception in Kaduna State.
- To examine challenges associated with implementing rebranding strategies at UBA.
- To recommend strategies for enhancing the effectiveness of rebranding initiatives.
Research Questions
- How do UBA’s rebranding strategies affect customer perception in Kaduna State?
- What challenges affect the success of UBA’s rebranding initiatives?
- What strategies can improve the effectiveness of UBA’s rebranding efforts?
Research Hypotheses
- Rebranding strategies significantly improve customer perception of UBA in Kaduna State.
- Challenges in rebranding implementation reduce its effectiveness.
- Enhanced communication and consistency improve the success of rebranding initiatives.
Scope and Limitations of the Study
This study focuses on the assessment of UBA’s rebranding strategies in Kaduna State. It examines customer perceptions, brand equity, and business growth, excluding other regions or unrelated marketing activities.
Definitions of Terms
- Rebranding: The process of altering a company’s identity to reflect new goals, values, or market positions.
- Brand Perception: Customers’ opinions and attitudes toward a brand based on their experiences and interactions.
- Brand Equity: The value a brand holds in the market, driven by recognition, loyalty, and trust.
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