Study On Industrial Bank Credit Card Marketing Strategy In The View Of Market Structure

With the gradually deepening of the financial market reforms, China has established a financial system which is dominated by commercial banks, while the market structure of traditional banking business is also stabilized. Under such circumstances, the rapid development of credit card business has become a new profit growth point of the major banks. And after the rapid growth of recent years, the market potential of credit card in China is still enormous. By the end of 2006, China has already authorized foreign banks to enjoy the national treatment that means our credit card market has been suffered an even more intense competition. However, all major banks of China have still not adjusted their credit card marketing strategy to cope with the market environment changes. Therefore, this article focuses on the Industrial bank's marketing strategy under the new situation of the Banking Industrial.This article firstly described the market structure theory and marketing theory briefly, as well as the relationship between them. Then this paper studied the market structure Of current credit card market in China and pointed out that our credit market is a multi- oligarchy structure, which means the five oligarchy banks is dominating the market and other banks is flowing. Industrial bank is not one of the oligarchies. On this basis, this article re-analyzed the Industrial Bank's market positioning and its former marketing strategy by SWOT analysis. The results showed that Industrial Bank should change its market role as a market niche instead of market challenger as soon as possible. This means that the bank should shift its former quantity-oriented extensive marketing mode to quality-oriented intensive one. So it can concentrate its power on the specially market segment and set up its own competitive advantage. Further more, this paper used the Rose Card marketing project of Taishin Bank, which has a similar market position with Industrial Bank, as a case analysis to illustrate the comparative advantages of Industrial Bank having in such a multi- oligarchy banking market structure. Finally, this paper presents suggestions for Industrial Bank credit card marketing strategy. These are to make sure a clear market positioning, to build a great brand, to expand marketing channels and to strengthen the regional advantage. All of these will help Industrial Bank become a successful market niche in the future.