Cmbc Branding Strategy

China Brand Building Report- China Merchants Bank Credit Card (CMBCC)

Introduction:

Since the introduction of the Opening-up and Reform policies in 1979, China has resumed its contact with the western world and has gradually integrated into the global economic system. The rapid development of its socialist market economy in the past three decades has tremendously shaped, influenced and transformed the commercial culture of this country. Under the backdrop of its rapid economic development, one visible transformation is the emergence of influential local brands, such as Mengniu, Lining and CMB.

The creation of a long-lasting and successful commercial brand is a complicated process that involves considerable efforts in careful strategic planning, continuous financial investment and disciplined marketing execution. As a result of such complexity it is imperative to examine that process in order to deepening our understanding in this field and to sustain the long-term development of a local brand. This report will be divided into four parts, namely overview, marketing, product and suggestions. The first three parts will offer a comprehensive analysis on how CMBCC brand has evolved to become a renowned and trusted icon through various integrated brand-building initiatives. The last one will provide some advice for sustaining its already well-established brand image.

Part 1: Overview (Brand Status)

1.1 Brand Position

CMB has been a real pioneer in driving and accelerating the use of credit card in China since the early 2000s. Though the Bank of China issued the country’s first credit cards in the 1980s, the whole industry has only started to take off a decade ago with CMB leading the market trend and setting the industry standards. Today the CMBCC is one of the top local brands as evident by its strong market performance and favorable consumer perception and peer review.

Market Share: (Source: CMB annual report & McKinsey on Payments Report):

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