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Bank Study
Commerce Bank | Wachovia | Bank of America | Chase | Wells Fargo | Citibank | Washington Mutual (WaMu) | SunTrust | BB&T | Conclusion
Return To Main SunTrust  SunTrust begs to know “How Can WE Help You?” And then promptly tells us that one way they can help us is if we use our credit card more… “Use your card more, you get a chance to win miles every time you use it.” In a textbook example of branding yourself as a commodity, SunTrust wants us to bank with them because we “get what you need when you need it." They also claim we need to use services like the telephone, online banking services, and more ATMs. This qualifies as more of what we need when we need it.
If you did not look at the non-existent SunTrust brand, but looked only at the switching triggers, you can see that SunTrust thinks they are positioned to steal market share from those competitors who do not have phone lines, online banking or ATM machines. I guess they are positioned to talk to people iving in 1975. (Oh wait, we had telephones in 1975… never mind). SunTrust is a perfect example of a business that spent cash and resources on a corporate identity (like a new logo, name and mark) and thought that they were developing a new brand. They confused brand with a new logo, mark and name. The problem is that brand is a reflection of the customer you hope to influence and, while corporate identity is part of it, it is only one part of it. Grade- D
Commerce Bank | Wachovia | Bank of America | Chase | Wells Fargo | Citibank | Washington Mutual (WaMu) | SunTrust | BB&T | Conclusion
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