This thesis is a study of how experience economy can be used in the work with corporate branding in the financial service sector. Through a theoretical exposition and a practical case study we examine what kind of opportunities and challenges may arise in applying economic experience principles outside core experience economy. The thesis begins with a presentation of theories within the subjects Corporate Branding and Experience Economy which are interesting and relevant for our discussion. First we look at the processes which can be defined when working with corporate branding. In this context we focus on both internal as external processes, tools and implementation. We then go on to discuss the different approaches to the experience economy to find out which subjects successfully can be integrated in corporate branding. In our Case Study we use the Danish bank Jyske Bank. First of all Jyske Bank is an example of a bank which have been working with experience economy in their new strategy ‘Jyske Forskelle2’. Secondly the bank represents a great part of the financial sector being the third largest bank in Denmark. The purpose of our case study is to get a more practical approach to our discussion. The investigation in our case study is based on interviews with the management, employees and customers in Jyske Bank and focus group interviews with Danish consumers with no relation to the bank. Additionally, there are more reasons why the dimensions of experience economy can be a part of corporate branding in the financial sector. We conclude that experiences are an efficient tool in corporate branding processes both internal and external. However consumers and employees can be overloaded with experiences which then can harm the whole image formation. Thus our case study shows that customers as well as employees have a positive perception of the image when it comes to Jyske Bank, we conclude that the financial sector must take into account that consumers still expect a certain level of seriousness and credibility. The case study determines that consumers and customers appreciate their relationship to their bank advisor the most and that this means more to them than the name and other dimensions from which consumers create their image of the bank. 2 We find that working with theories within experience economy and corporate branding at the same time can be challenging. When working strategically with experiences in the financial sector, experiences must be seen as tools to support the primary product and express the values of the company.
|Educations||MA in International Business Communication (Intercultural Marketing), (Graduate Programme) Final Thesis|
|Number of pages||182|