Study of effectiveness of hdfc’s brand communication using social networking sites

Abstract

The rise of social media platforms is one of the most revolutionary inventions of the last century. It has almost replaced all previous forms of communication including TV, radio, newspapers and so on. The all-powerful social media platforms have completely changed the way we communicate and get our daily information. Today we log in to websites like Facebook and Twitter for both conversing with a longtime friend and to get our daily news. This new form of technology has a lot of advantages, but it has specially made the modern customer very powerful. Today’s consumers have a lot of information of the products that they want to buy from social media platforms by getting reviews form their peers and friends, rather than just from the company’s marketing materials. This has made marketing more exciting than ever before for the marketing managers. With the advent of the internet and social media marketing managers are seeing new opportunities to market their products to vast amount of people. However social media has two different sides to story, it also has made the marketing process more complicated for the marketing managers as today’s customers have a lot more information about the products that they intend to buy. In this research researchers have tried to understand the efficiency of these online communications that are conducted by the HDFC Bank. We have focused in the banking sector, this is because many of the banks are using this new tool to communicate with their customers in a much more effective manner. We have focused on the brand communication of HDFC Pvt. Ltd. In particular, which is one of the big four banks in India. For this research we have tried to understand how does the brand communication from HDFC affect the way that customer feel about the company. For this we have collected data from people by the use of Google forms and then tried to understand their perception about the impact of HDFCs online brand communication efforts on Brand awareness and association.