Research On Service Value Promotion Of Securities Companies In China

With the continuous development of reform and opening up, and China's accession to the WTO, the service industry will become one of the largest investment hot spot, and the securities industry becomes increasingly market-oriented in this context. After nearly two decades of development, a growing range of investment products and more mature security market and investors, the securities industry has turned into a buyer's market from a seller's market. The securities companies competing for customers have become more and more intensified. At the end of 2008, there had been 124 securities companies in China, of which total amount of registered capital is more than 106 billion Yuan. Obviously, simple price competition can not meet investor expectations, therefore, services, has become vital when securities companies exploiting market. The characteristics of the securities industry, as well as the characteristics of the new competitive environment indicate that the cultivation of awareness of services marketing depends on promoting the service value, in order to attract, retain customers and gain profit ultimaieiy in the fierce market. The research of service value of a securities company is a management concept innovation, aiming at improving the level of a securities company and improving service quality, enhancing customer satisfaction, and thus enhancing service value, creating a competitive advantage, gaining sustainable profit ultimately.First, the paper analyzes the development trend in recent years, China's service industry, as well as the development of the financial services industry, then analyzes and service marketing in China's securities companies and service management changes in the status quo. Next, the research background and significance of the value of service promotion is brought forward and the overall research ideas and research methodologies are given. Second, from the service profit chain theory, service value and service value chain theory and securities firms services value research, an research entry point for this paper is found based on the comments of the previous studies, and the theoretical foundation is build. Third, on the basis of the formation process and the traditional value chain theory, this paper divides the process of service value chain into two parts, which are basic process and assistant process. Then, this paper establishes the service value chain model, and service value model of securities companies in China and analyzes the relation between each parts of the model. It designs a scheme for promoting service value of securities companies in China according to the model. At, last, it studies Z Company as an case, and analyzes the implementation and result of the scheme, which proves the conclusion of this paper.The innovations of this paper are as follows. First of all, the value of service through the formation of research and design services to securities firms value chain. And pointed out that the activities of the value chain of securities company are not a collection of independent, but a system composing of interdependent activities. In which the linkages between the activities of the value chain, including service connections and service within the vertical value chain linkages. Second, based on the combination of the service value chain model and the service profit chain theory, this paper designs services value model for securities firms, and analyzes the relationship between the various parts of the model, so as to enhance service value and provide a theoretical basis for the design of the program. Finally, based on the value of this service model, this paper gives the scheme to enhance service value and gives the specific implementation and organizational security measures for the domestic securities companies. It points out that customer and employee-centric service management model should be established on the basis pairs of fully understanding the status of service management of securities companies, as well as building value-oriented service culture in order to promote the service value of the securities companies.