Research On Marketing Strategy Of Personal Financial Products In Commercial Banks

Currently, with the development of our economy and the gradual improvement of the residents’ income level, Chinese commercial banks’ personal finance business has been developing rapidly. However, due to the fierce competition of the personal finance market,many issues are widespread, such as product homogeneity, service average and the prevalence of complicated business processes.If the commercial banks are willing to promote the comprehensive development of financial products business better, they need to increase the marketing strategy building and improving as well. Besides, proper use of various marketing strategies is also necessary to develop new markets continuously and maintain a competitive advantage. It’s for sure that whether the marketing strategy is the complete is the key to the all-around-development of personal financial services.For the current reality of Chinese commercial banks’ personal financial services. Firstly, this paper explores the Zhejiang Branch of a bank’s personal financial product marketing strategy as the research object, using documents, questionnaire survey and statistical analysis to analyze this bank’s personal financial product marketing environment, marketing model, sales channels, marketing characteristics and marketing situation. As a conclusion, problems of this bank’s personal financial services are obvious, such as a lack of innovation, improper market positioning, the complication of the selling procedure, few ways of advertising, a lack of using various channels. Secondly, followed by SWOT analysis and marketing strategy combining theory, the author presents suggestions and other aspects by proposing to clear market positioning and make segmentation of the customers, using a flexible pricing strategy and informationalized technology distribution channels to further improve service levels and risk control ability etc.While writing this paper, the author pays attention to combining general theory and actual business. The result of the study is close to the reality, which guarantees the authenticity and practicability of this study. This also contributes to the improvement of commercial banks’ personal financial business’ sales management ability in order to promote the comprehensive construction of the whole industry. Meanwhile, this paper provides commercial banks of some reference on the development of personal finance business as well.