Designing a Brand Revitalization Model for Refah Bank

Abstract

Brand revitalization plays a significant role in the success of a business and maintaining a brand's competitive position. The aim of this study is to design a brand revitalization model for Refah Bank. This study is applied-developmental in terms of its objective, and in terms of data collection, given the nature of the research, a qualitative meta-synthesis method following the six-stage approach of Walsh and Downe (2005) has been employed. The research population comprises all scientific documents published between 2010 and 2023, totaling 187 documents, which were retrieved from eight international and three domestic databases. After examining the titles, abstracts, and contents, 30 scientific documents were selected and analyzed. For the analysis and synthesis of data and the final meta-synthesis results, thematic analysis was applied. Based on a review of previous studies, the extracted codes were structured into a four-stage procedural framework that includes changes in competitive positioning (customer identification and understanding, close interaction and communication with customers, creative marketing and advertising, and enhancing competitive capabilities); changes in the external organizational environment (social and environmental responsibility, collaboration and interaction with the environment, and systemic analysis and understanding of the environment); changes in strategy (establishing a rich organizational culture, empowering and developing human resources, strengthening the physical and visual environment, and diversifying and expanding services); and changes in ownership structure (systematic supervision and feedback, utilizing up-to-date technology, forward-looking management and leadership, and customer orientation and need-based approaches).