The Brand Strategy Of The Personal Finance Business In Our Commercial Banks

In recent years, with the stable development of China's economy, the rapid growth of personal financial assets, the demand of financial planning are much stronger in our country. As the RMB business fully open to foreign banks, foreign banks will be more involved in the Chinese financial market the competition between domestic banks and foreign banks is more and more fierce. All signs also show that foreign banks are accelerating their business in China, and the retail banking business will become the largest goals of the foreign banks in the competitive.In fact in the international financial market, the source of the profits of commercial banks mostly changed from mostly depending on the company credit business to focusing on both corporation finance and personal finance. The competition in the personal finance market is fierce, but Because of the policy, legal, technical, and personnel constraints, the current domestic commercial banks can't provide the customers with the financial services that can really help the customer to establish the most suitable Portfolios of the personal financial assets. The products between the commercial banks do not have difference in the nature, so it is essential and urgent for the commercial banks to use the brand strategy to win more customers.This article's main parts is about three parts. First, it demonstrates the situation of the personal finance business about the Chinese commercial banks. Our countries'commercial banks'personal finance business through the nearly twenty years development has made great progress, but there are still more problems to be solved, just like the shortage of senior personal financial planning persons and the same essence of the products among the commercial banks. And this part also analyses the necessity of strengthening the development of our countries'commercial banks'personal finance business, just like the rapid development of our country's economy, the increasing demand of personal finance, and the change of the traditional profit making mode.Then the second part is focusing on the necessity of our country's commercial banks to use the brand strategy. In this part this article first introduces the concept of the brand, then it analyses the necessity of our country's commercial banks to use the brand strategy. In the analysis, this article shows the importance of the brand strategy to improve its necessity of our country's commercial banks to use the brand strategy. There are six aspects of its importance, which are establish the unique brand image, decrease the cost, making the products more valuable, polymerization effect, making the customers buying more products and attracting more customers.The last part is the most important part about this article. In this part the article analyses the specific strategies to establish the brand of the personal finance products. First it introduces the basic strategy of establishing the brand. Before we use the brand strategy, we should to use the STP strategy to segment the market, choose the target in the market and last positing our products in the market. After the STP strategy, we begin the brand strategy, which includes four steps. First step is brand awareness strategy, the key to establish the brand awareness is that the commercial banks must make the suitable target, reasonable design, and effective publicity way. To concretely analyze the strategy this article uses an example of Citi Bank. The second step is the brand association strategy, the most important part for the commercial bank to establish the brand association is about two aspects. First one is to produce a product with unique nature, and the second one is that if it doesn't have the unique nature, we have to create some characteristic about it. The third step is brand praise strategy. In this strategy it is important to realize the customer satisfaction, and to develop the opinion leaders. The last step is the brand loyalty strategy. To establish the brand loyalty, the commercial banks must produce multiply products to satisfy the customers'demands, then they must provide more value except the product itself, and last they must keep good relations with customers not only before they buy the products, and it is more important to keep it after they bought the products. This article also use an example about the sunflower series personal finance products'brand strategy to demonstrate the brand strategy specifically and also to show the importance about the brand strategy. The conclusion of this article is that trying to winning in the market of the personal finance , it is essential for our country's commercial banks to use the suitable brand strategy.