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Tightwad Bank: A Lesson in Branding

Entrepreneur’s story about Tightwad Bank in Tightwad, MO quotes Rita McGrath: using a different kind of name is a “strategy that’s used by many firms to add an empathic or emotional appeal to their products that enhances the basic functionality of what they have to sell. A quirky name like this can often provide valuable differentiation for a company, particularly in a relatively commoditized (and, to be frank, boring) industry like banking.” [McGrath] thinks it will be interesting to see whether the name becomes even more salient during these tough economic times, “when being a tightwad may well be seen as more honorable and intelligent than being a silly, credit-consuming spendthrift.” To read the entire article, click here.

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