Research On Service&Product Combination Based On Customer Relationship Management At CITIC Wantong Securities

Twenty-two years have passed when China’s domestic capital market emerged;hence security firms also experienced lots of ups and downs since then. Thedevelopment of security firms can be summarized into three stages, that is, tangledfight, hardware competition and software competition. After the economic crisisworldwide in2008, the soft service which was relied on totally before has completelycollapsed. As well, the battle of commissions and prices caused by full competitionwithin security firms has dragged security brokerage business into the dilemma of theRed Sea.With the development of service marketing, more and more security firmsrealized that as a kind of service-type business, customers and products are the keyfactors to determine success and failure. To establish a set of customer-centricmarketing service system, it is the common view in the industry to carry out themanagement of customer relationship. Unfortunately, few people could take the issueof combining customers&products into account, especially the issue of service&product based on customer service relationship management. As the subsidiary ofCITIC Securities (stock code:600030in Shanghai A share market; stock code6030inHong Kong market), the biggest security firm in scale in China, CITIC WantongSecurities is one of the market leaders in Shandong province. To maintain its status ofpioneer in the region, the issue of service&product combination must be studied.The purpose of the article is to analyze the issue of service&productcombination based on the customer relationship management in the security industry.According to the theory of excavating customer value via the customer relationship management as well as the theory of product-typed service, also combined with thetendency that traditional marketing is on the way to change into service-featuredmodern marketing, the article aims to analyze existing problems in customerrelationship management, establish a set of standards to classify customers, anddesign a system of service&product combination at CITIC Wantong Securities.Pricing system in security brokerage business would be eventually set up viastandardized treatment for the form and content, delivery, as well as branded packageof the services.This article adopts such methods as normal standards and practiced verifications,studies current status and existing problems in customer service system at CITICWantong Securities, analyzes customer data and sets up standardized customerclassification via customer value judgment based on the theory of customerrelationship management as well as K-means. As such, a system of service&productcombination at CITIC Wantong Securities has been designed out, integrating service&product from parent company, CITIC Securities and the other subsidiary, CITICSecurities (Zhejiang), offering a good solution for CITIC Wantong Securities to standout among competitions in the security industry using service&product combination.