Study On The Personal Financial Product Marketing Of Foreign Banks In China

With our sustained and steady economic growth, income level and personal financial assets increasing, accompanied by growing awareness of financial management, the domestic residents have shown a strong demand of financial products. Therefore, it provides a broad market space for personal financial services of commercial banks. In this context of huge financial market, foreign banks are also aiming at this market, starting to compete with Chinese domestic banks for the personal financial market.In this paper, it firstly takes a brief review of the development of personal financial products of the foreign banks in China, and makes the general market analysis, then summarizes the currently existing problems of personal financial products provided by foreign banks. In further, this paper analyses the personal financial products of foreign banks using the method of SWOT, including the market opportunities and threats, advantages and disadvantages, in order to have a comprehensive understanding of the market environment and status of the foreign banks' personal financial products. In the increasingly competitive situation of the financial market, foreign banks in China should make scientific and rational marketing strategy, and take full advantage of market opportunities to successfully deal with the impact and challenges of Chinese domestic banks in the financial products area.Therefore, in order to make full use of the competitive advantages of foreign banks, in the meanwhile to avoid the disadvantages, firstly the foreign banks should re-segment the personal financial market effectively and make the accurate target market positioning, then accordingly make the differentiated marketing strategy, in order to provide appropriate financial products and services to different customers according to different customer demand and the contribution to the banks. It suggests that foreign banks should make full and effective use of their resources to carry out the financial products marketing activities to increase the market share in the financial products area and promote the healthy and stable development for foreign banks in domestic financial products market.