How does lloyds tsb differ from its competitors

The branches, sold to appease European competition concerns following its taxpayer-funded bailout, could have gone to a smaller firm and boosted competition, the committee said.

MPs acknowledged the trade-off between raising revenues for the taxpayer and boosting competition, but argued that strengthening competition would have a more positive impact on the wider economy. While none of the UK's largest banks is allowed to bid for the Lloyds branches, the committee wants a public interest test applied to the divestment — as well as the sale of Northern Rock.

The report says: "As yet, there has been no assessment to see what impact Lloyds' strong position has had on competition in the retail market. We are concerned by the emergence of such a powerful player in the retail market and the potential competition implications.

We operate in an increasingly dynamic market and have to respond to an ever-changing external environment. We've built our business and our strategy to manage the fluctuations we see. Our strategy. Preferred financial partner for personal customers, through leveraging our unique competitive advantages to significantly deepen customer relationships Best bank for business, through building a leading digital SME proposition, with a disciplined and strengthened business for Corporate and Institutional clients Further develop and leverage our core capabilities, including delivering a modernised technology architecture, building integrated payment solutions, creating a data driven organisation and implementing reimagined ways of working Clear execution outcomes for the coming year are outlined for all these areas and underpinned by long-term strategic vision.

Play button, click to open video player. Popup window. Appendix 2 summarises details of all television advertising from to There is no doubt that Lloyds Bank's advertising has been extremely effective in maximising its visibility on a minority share of voice. From the beginning, the campaign has dominated those of its competitors, by virtue of two main factors: In effect, the consistency and creative efficiency of the advertising has provided Lloyds Bank with a level of awareness vastly in excess of its share of voice.

Effective share of voice is calculated by multiplying the actual share of voice of each advertiser by their awareness index. In effect Lloyds Bank's television advertising has had a 'share of mind' some 2.

Crucially, the tracking study also provides evidence of change in the customer's image of Lloyds Bank since the beginning of the campaign, specifically related to the Bank's perceived inaccessibility or lack of approachability to the man in the street. Although association of Lloyds Bank with the image statement 'suitable for people who really know about finance' rose to a peak shortly after the campaign was launched, it declined swiftly from to , indicating that customers felt that their Bank has become more accessible to the average customer see The initial phase of the campaign featuring Leo McKern was very successful in confirming the integrity and trustworthiness of Lloyds Bank, and providing the impression of considerable innovation in customer service.

However, as the image trend indicates it did not immediately do very much to make Lloyds Bank seem more accessible to its customers. The diagnosis was not hard to discern: Leo was tilting the balance of communication too much in favour of traditional banking values.

For this reason, Nigel Havers was introduced alongside Leo in January , in a commercial entitled 'Surprise, Surprise' see Appendix 2. Qualitative research at the time The Research Business, suggested this was a very significant step. Whilst Leo evidently stood for integrity, security and responsibility, Nigel 'clearly represents those aspects of the Bank that are changing with the times: modernity, flexibility, accessibility'. By pitting the two characters against one another, the advertising intentionally depicted a conflict between the old and the new Bank, but as the research reported: Throughout this and later research studies, Lloyds Bank is given great credit for 'coming clean' about its intentions.

Thus the very fact that Lloyds Bank was using its advertising to admit that it needed to change was perhaps the most powerful catalyst to change of image. The fact that it was doing this in public merely underlined the integrity and confidence of the Bank.

The confidence displayed in the advertising, supported by the wit of the dialogue and the calm, relaxed style of the productions has resulted in a new customer interpretation of the Bank's image, with which customers feel more comfortable: In later executions, particularly those featuring Jan Francis, emphasis has been placed on dialogue between Bank and customer, which has struck home with the customer.

Rather than being imbued with the claustrophobic and overwhelming associations of the traditional oak panelled banking halls, the personality of Lloyds Bank is now more open, approachable and accessible. Although Leo, and to a lesser extent Nigel, still remain salient in elements of the brand image, 'some elements of the brand now stem from Jan Francis' That she is a woman helps confirm the Bank's concern for and accessibility to all types of customer.

The fact that she is portrayed as a rather sharp but astute business person demonstrates that the Bank knows its customers to be both demanding and discerning.

Whereas before, typical Lloyds customers were characterised as being middle-aged, middle class, well-off and knowledgeable about financial matters, they are now described as: Naturally, this user image reflects on the customer in a positive way: Thus through a process of gradual evolution the advertising has brought about a transformation in the image of Lloyds Bank.

It is still seen as being the most traditional of the High Street banks, but these are now traditional values which inspire confidence and trust rather than alienation and a sense of distance.

It is this transformation which, we will argue, has encouraged a greater level of commitment among Lloyds Bank's customers than is enjoyed by its competitors. As measured by the six key indicators described earlier, the Gilmour Hall study conducted in December shows that, overall, Lloyds Bank has a higher average level of customer commitment than do either NatWest or Barclays.

In particular, the analysis shows that Lloyds has significantly more customers in the strong commitment group. In effect this result suggests that Lloyds Bank, with 4. Before discussing the value of this commitment to Lloyds Bank, it is important to examine and dismiss two issues which might cast the observed differences in commitment in a less positive light.

In an earlier section the link between strong commitment and account behaviour was described. Strongly committed customers appear more likely both to save with their own bank and to buy insurance products from it, though the results are not statistically significant.

However, the positive effects of strong commitment on current account behaviour are statistically reliable, and show that such customers are less likely to have one or more secondary accounts outside the bank and considerably more likely to have substantial sums in those current accounts. In effect they give their bank more money to look after. We cannot tell from this survey data how much money this is, but we can examine the impact of a higher level of commitment on Lloyds Bank's funds, at alternative balance levels.

This paper puts forward a strong case for the effect of advertising in delivering an enhanced level of customer commitment.

Cop Climate finance progress made, but doubt lingers over big promises. Privacy Policy. Who are we? Our principal business activities are: Business-to-Business financial publishing. Why do we collect information from you? These say that personal data must: Be processed fairly and lawfully Be obtained only for specific, lawful purposes Be adequate, relevant and not excessive Be accurate and kept up to date Not be held for any longer than necessary Processed in accordance with the rights of data subjects Be protected in appropriate ways Not be transferred outside the European Economic Area EEA , unless that country of territory also ensures an adequate level of protection How do we collect information from you?

Types of Personal Data Held and its Use 1. Monitoring use of our Sites Where, as part of our Site services, we enable you to post information or materials on our Site, we may access and monitor any information which you upload or input, including in any password-protected sections.

This enables your access to content and services that are not publicly available. This information may be used for one or more of the following purposes: to fulfil our obligations to you; to improve the efficiency, quality and design of our Sites and services; to see which articles, features and services are most read and used to track compliance with our terms and conditions of use, e.

Please see paragraph 5 below for more details; to protect or comply with our legal rights and obligations; and to enable our journalists to contact and interact with you online in connection with any content you may post to our Sites.

Profiling We may analyse your personal information to create a profile of your interests and preferences so that we can contact you with information relevant to you. Cookies and similar technologies All our Sites use cookies and similar technical tools to collect information about your access to the Site and the services we provide.

What is a cookie? Why do we use cookies? Log In — Where we provide log in mechanisms for site users a cookie is created at login and for the duration of the session.

Each cookie contains a unique reference number only no personal information which is used to confirm you are authorised. Analytics — To allow us to keep track of traffic to our website we use cookies. The cookies simply tell us if you have previously visited our website so we can get more accurate figures for New vs Returning visitors. Find and control your cookies All of the major browser providers offer advice on setting up and using the privacy and security functions for their products.

We may use cookies to: remember that you have used the Site before; this means we can identify the number of unique visitors we receive to different parts of the Site. This information is only collected by reference to the IP address that you are using, but does include information about the county and city you are in, together with the name of your internet service provider. Why do we track e-mails? How do you track GTR eNewsletters?

Consents and opt-outs You can give your consent to opt-out of all or any particular uses of your data as indicated above by: Indicating at the point on the relevant Site where personal data is collected Informing us by e-mail, post or phone Updating your preferences on the applicable Site or eNewsletter unsubscribe and preference options are available in the footer of each eNewsletter To turn cookies and similar technologies on and off, see the information in paragraph 5 above.

Public forums, message boards and blogs Some of our Sites may have a message board, blogs or other facilities for user generated content available and users can participate in these facilities. Data outside the EEA Services on the Internet are accessible globally so collection and transmission of personal data is not always limited to one country.

Who has access to your information? Confidentiality and Security of Your Personal Data We are committed to keeping the data you provide us secure and will take reasonable precautions to protect your personal data from loss, misuse or alteration.