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equity objective for ING’s primary target audience would focus on improving multi-BLs’ preference towards the brand so ING becomes their first favourite, in terms of percentage “share of requirements” (SOR) (Baldinger, & Rubinson 1997, p. 37). Regarding the nature of high switching cost and high customer engagement level in banking service (Yanamandram & White 2006, p. 158) along with ING’s weakness in competition caused by having only virtual distribution, it would cost the bank significantly in captivating OBSs and OBLs but not NCUs. In consonance with Rossiter, Percy, & Bergkvist (2018, p. 75) NCUs, especially positive new category users, are the ones who have heard of banking service and are favourably disposed towards it but yet to make trial purchase of a brand-item of bank category. The reason why positive NCUs were chosen is due to ING’s low brand awareness. According to our primary research, only one out of twenty respondents recognizes ING as an online bank. With the view to increasing ING’s sales by 10%, it is important to acknowledge ING’s brand equity objective of enhancing customer awareness toward the bank. Indeed, apart from its high distinction in value equity, ING falls short of yielding its uniqueness equity, which makes it a bank of high value but low uniqueness. The strategy to tackle this low uniqueness is to find or develop a unique benefit for the brand-item, and advertise this benefit as “this brand only” while also reminding customers of its good overall value (Rossiter, Percy, & Bergkvist 2018, p. 12). In brief, studies by Sharma, & Mahajan (2014) has also supported the notion that firm should not channel its effort into attracting all customers in the market indiscriminately, but those who are more valuable to the company. In the case of ING bank, the decision of choosing multi-BLs and positive NCUs as its primary and secondary target audience respectively, hence is a considerate one. 3. I-D-U tableThe IDU table (brand preference table) is used to identify and evaluate the performance of a company against its competitors on the key benefits. Each of the rows identifies the key benefits that satisfy customers’ needs while the columns demonstrate the performance and ranking of the company itself and its competitors. Firstly, looking at the columns, we have ING bank and four other competitors: ANZ, Commonwealth, Suncorp and ME. These banks were examined because they all together are the representatives of the banking industry in Australia. As no one bank can satisfy all needs of a customer to the fullest level, customers tend to have multiple bank accounts in different banks (Thaichon, 2017). Therefore, the challenge for banks is to retain existing customers and attract
new ones. We have identified ANZ and Commonwealth as our competitors because they are two of the four largest banks in Australia. In other words, they are the market leaders against which ING needs to compete. The Suncorp Group is Australia’s 6thlargest bank and is a growing competitor in the industry. ME bank is considered as ING’s direct competitor since it