Personal Finance Market Segmentation And Differentiated Marketing Strategy Analysis Based On Commercial Banks In Guangdong Province

With the growth of the economy in our country, the residents have more income, theypay more attention to personal finance, and the personal finance market of our country isawaiting the arrival of its boom. It is difficult to increase the profit continuously only relyingon the traditional business of commercial banks; they come to realize that the development ofpersonal financial business is important to achieve more profit. As a result, they make plansaimed at developing personal financial market, making the competition situation be fiercer inthe market. To maintain the share of the market, commercial banks need to change themarketing development concept. Taking the customer as the God, commercial banks need toconsider how to segregate the market correctly, and then provide different product andservices based on different customers. Once the banks realize the financial objective of thecustomers, they will enhance the persistent competition advantage.The paper is based on the market segmentation theory. Considering all the customers inGuangdong province, we provide different services based on the result of the marketsegmentation, which will help the commercial banks differentiate marketing to a large extent.Also, the idea will be helpful and can be learnt by the banks in the regions other thanGuangdong province.To be specific, firstly, the paper gives the common analysis of the personal bankingmarket of Guangdong province, including the analysis of market environment, the marketdemand and supply. And then, the article analyzes the advantages and disadvantages and theopportunity and threat faced by the banks in Guangdong. Based on the analysis, the authorcollects data from official website, including the website of State Statistics Bureau, financialreporting from the bank, as well as the data from the questionnaire study. Based on the data,this paper segregates the market by demographic factor, geography factor, behavior andmentality factor. According to the result of the market segregation, the paper tries to providedifferent marketing strategies for the commercial banks in Guangdong area; also, to someextent it will help the banks in other area commencing business.