Study On China's Bank Marketing Strategies In Personal Services

With Chinese entry to WTO, the tide of globalization of finance and economy will bring a hard time for Chinese banking to learn from the foreign banks, to adjust itself to the opening market, to compete with the foriegn counterparts and even to struggle in the keen competition. The advanced marketing conceptions and techniques of foreign-funded banks, which integrate banking, security and insurance, gives them more advantages in competing with Chinese counterparts. Under the circumstances of dramatic changing of the source of finance, increasingly heated competition in banking market, continuous drops of interest rate and constant shrinking of banks' operation and interest-gap spaces, the banks in China are now faced with the problems of relative surplus of funds and increasingly declining profit level. Owing to the historical reasons, 90% of the businesses conducted by Chinese commercial banks are dealing with enterprises, which make them more experienced in devolping segmentation and diversification stratiges in business and organizational customers than in the individual customers. How to identify and segment the individual customers, is still a brand new field for Chinese banking to explore. In recent years, with the increasing of people's income and the changing of people's finance conception , the demands of personal bank services have seen a drastic increase. With the all-opening-up policy to be implemented in 2006 in Chinese banking, the domestic banks will face with a fierce competition with the foreign banks in the high-quality customers. As a branch of service marketing, it is a theme of great significant as how to apply the modern conception of service marketing to pursue effective marketing strategies in personal bank services as well as to develop its competitive capability in Chinese banking by deploying banking marketing. Compared with foreign banks, there are many problems in Chinese banking marketing, the main of which are those:lack of the customers-oriented conceptions in the strategies of CRM(customer relationship management )and IMC(integrated marketing communication); failure to match the customers' demands and to employ diversification straties on the target market by rational segmentation and positioning ;hardly to achive an efficient marketing mixes strategies; poor in service quality,etc.To study further in this subject,the author has applied such methods as field survey and theoretics analysis ; demonstration analysis and criterion analysis;qualitative analysis and quantitative analysis. The author lucubrates in the marketing enviorment the characteristics of bank services and individuals demands as well as the existing problems in Chinese banking marketing in the personal bank services. According to the specific characteristics of the bank services, the thesis raised some countermeasures--applying the conception of symbiosis marketing strategy to achieve a win-win competition between the banks and other financial institutes,as well as other business firms by sharing the commom resources ; implementing the IMC strategy byintegrating the external marketing with internal marketing,by integrating the marketing functions and achieving the cooperation between marketing department and other departments as well developing CRM strategy by adopting customer managers to retain long associate relationship between the bank and high-quality clients;segmenting and positioning the target market and deploying diversification strategy; practicing 3Ps strategies(people strategy,physical evidence strategy and process strategy ) in the bank services. According to the situation of Chinese banking, the author put forward some practical suggestions furthermore on how Chinese banks to segment and position the target market, to implent the new product development strategy in personal bank services as well.The study on the banking marketing under the frame of service marketing,is significant both in academy and practice circles,which is helpful for our banking to conceive a customer-oriented conception...