Refreshing a successful brand
This Case Study focuses on marketing and advertising, and the creation of a successful brand. It outlines MLC’s introduction of a 'fee-for-service' business model, and examines how the company has conveyed these changes to the public, increasing brand awareness.
As a result of reading this Case Study, students should be able to:
- Understand what is meant by marketing and advertising, and how these two concepts differ
- Understand why brand awareness is important, particularly with regards to a strong logo
- Identify how MLC strengthened its brand image following a major change in its service provision.
Introduction
MLC is the wealth management division of the National Australia Bank (NAB). It provides investment, superannuation and insurance solutions and supports the provision of quality financial advice.
Creating transparency and trust in the financial services industry
Around 25 years ago, before superannuation was mandatory for all Australians, many financial institutions had employees who sold investment and insurance products to customers on their behalf.
Positioning the brand
The first thing MLC had to do as part of its marketing strategy was to identify its core business values.
Redesigning the logo
A logo is a symbol that represents a brand or company. Made up of an image or graphic design and sometimes words, a company’s logo is often the first thing a customer will notice.
Creating successful advertising
Once the logo was selected, it was time for MLC to embark on a substantial advertising campaign.
Conclusion
Making the change to a fee-for-service model was the first step on MLC's path towards increased transparency and trust within the financial services sector.
Introduction
Creating transparency and trust in the financial services industry
Positioning the brand
Redesigning the logo
Creating successful advertising
Conclusion
