UTI Bank to AXIS Bank: A Corporate Rebranding Exercise
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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.
Need for Change in Name
On April 30, 2007, UTI Bank announced that the bank's board of directors had approved a proposal to change its name to Axis Bank. Nayak explained, "The name has been chosen because it is simple and crisp, transcends geographical boundaries as we seek to become a multinational bank, and connotes stability and solidity...
The Media Campaign
On August 1, 2007, the bank started an integrated marketing campaign titled 'UTI Bank is now Axis Bank; Everything is the same except the name'. Sumanto Chattopadhyay (Chattopadhyay), Group Creative Director, O&M, said, "It's [the change in name] something very serious, something that would give people sleepless nights if there was a hint that it's a takeover or something fundamentally changing...
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