Aishwarya Rao
These days on my way to office, I can’t help but notice a red board glow against the early morning sunlight. What was once unmistakably unnoticeable now forcefully grabs your attention every time you take the flyover opposite to Chola Sheraton. Ah! Yet another brand makeover!


Instead of following the irreversible brand life cycle and letting the brand fade away and die, here is an image makeover that will hopefully help 81-year-old LVB remain a 'vibrant' private sector bank. Especially with big players like ICICI, HDFC (respect yourself) Bank of India (We understand relationships) and co. riding on an emotional wave to sell functional accounts and insurance schemes, it was time LVB and co. started creating associations and a clear identity for themselves.
Yet what remains to be answered is whether altering the packaging will itself boost the banks business. While changing the brand image can help alter attitudes, a new and fresh look on the outside not necessarily implies a change in the inside. SBI's ambitious advertising might have won its agency an Effie but it hasn’t reduced the number of frustrated customers who walk out of an out-of-order ATM. Not surprisingly it’s SBI!
In any case I wish LVB's makeover initiatives are not restricted to the fancy outside. Hopefully it must achieve operational efficiency and the desired volume-led growth. An image makeover after all can only strengthen a brands efforts to remain relevant in consumer's life.
7 Responses
  1. Anonymous Says:

    "Hopefully it must achieve operational efficiency and achieve the desired volume-led growth. An image makeover after all can only strengthen a brands efforts to remain relevant in consumer's life." - Is this an attempt to reinforce in your mind the stuff you learnt in school or does jargon usage improve BRAND EQUITY??!!
    -AK


  2. Hey AK,
    No sweets, not trying to remember school lessons...infact I dont even think all this is jargon. Just stating what Mr.R.M.Nayak, the CEO and Chairman of LVB had to say!
    Sorry, must have given a link. My mishtake :-)
    Check out his statements.
    http://www.thehindubusinessline.com/2006/11/08/stories/2006110802220600.htm


  3. Anonymous Says:

    Hey, no offense meant in my previous comment. Just that I got a whiff of many a "phrase" in your posts on brands, advertising etal. Laymen like us hope to get unvarnished views from future branding gurus!
    -AK
    PS: PSBB Main?


  4. Anonymous Says:

    LVB finally got an excellent marketing executive it seemss...


  5. Vasanth Says:

    true aish !!! castrol had a master brand re-launch last dec....every 3 yrs there has been change in logo and colors...change is what is permanent !!!


  6. Aparna Says:

    Hey there,

    It is interesting to see how India is going the American way. People judge everything, including other people on basis of their looks.
    West seems to have really come to East!!!


  7. Adel Says:

    Although, the image makeover is a desirable change (and I'm glad Indian companies are beginning to value the importance of design), the new logo is ridiculous for a bank. I'm sure even Pogo would've refrained from using the type and color pallete that they've chosen.

    There are 2 possible reasons for this (I'm speculating here) -
    1. The identity was done by someone inexperienced in the brand identity industry. Must've been done by someone in the organization itself, earning a small bonus. Or maybe, it is possible the CEO's grandchild might have done it too!

    2. LVB might have approached a good agency and explained their directions. But when they heard about the cost for developing a new brand identity, must've convinced the agency to come up with something with a certain sepcific budget - 5K? The agency, infuriated and insulted with the demands, gets a fresh intern and asks him to design the logo in half hour.