Bank of Baroda Clinches the Prestigious SPJIMR Marketing Impact Award 2007

Bank of Baroda Clinches the Prestigious SPJIMR Marketing Impact Award 2007

Bank of Baroda, India's International Bank with a network of branches in India, and an international presence in 21 countries, has been awarded the coveted S. P. Jain Institute of Management and Research (SPJIMR), Mumbai, Marketing Impact Award for the year 2007.

The bank won the honor in recognition of its strategic initiative to leverage Bank of Baroda's brand equity signaling the recognition of new business paradigms in a globalized world, staying in touch with their heritage and enduring relationships on which their bank is founded. By adopting a symbol as simple and powerful as the Baroda Sun, they have managed to communicate both.

The much-celebrated SMIAs were presented during the Symposium on 'Marketing Impact and Effectiveness', organized by S. P. Jain Institute on Saturday, February 10, 2007 in Mumbai, which was attended by the top corporate czars from the world of business. The Bank of Baroda team was selected by the distinguished jury panel comprising of distinguished leaders from industry and academia awarded the SMIA 2007 Trophy and a cash prize of Rs. 75,000/-. The runners-up from ITC were awarded a cash prize of Rs, 45,000/-. All short-listed entries will be compiled into an annual SPJIMR publication.

This pioneering initiative of presenting marketing awards was instituted by S. P. Jain Institute of Management and Research, the top management institute in the country, and is a prestigious annual event, for showcasing the effectiveness of marketing success stories in India. Some of the major criteria for determining the winner were the nature of challenge, competitive framework, the marketing solution and initiative, scale of operations, difficulty in implementation and the overall marketing impact and effectiveness. Participation for the SMIA 2007 was open to corporate, public sector and non-government organizations. Last year, Tata Steel won the SMIA for its path-breaking 'Redefining Retail of Steel' paper.

Previous SMIA award winning papers include 'The Apollo Clinic' by Apollo Health & Lifestyle Ltd. in 2005, 'Balbir Pasha: Reducing Aids Prevalence' by PSI & Lowe in 2005 and 'Redefining Retail of Steel' by Tata Steel in 2006.

This year the list of entries were 'Akanksha Art Workshops: A Unique Marketing Initiative', 'Bank of Baroda: Rebranding Strategy', 'HCL Technologies: Enabling Organisational Transformation' and ITC's: Weather Insurance Derivatives Marketing'.

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Contributed by -
Meghana Kedar (Campus Associate),
PGDBM, Batch of 2006-08,
S. P. Jain Institute of Management & Research, Mumbai.

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