Research On Retail Service Marketing Strategies For Bank Of China Based On Customer Perceived Value

Chinese banking sector has developed quickly in the last decade, establishing a service network across the country. The number of users is increasing geometrically, having formed the situation which the four state-owned commercial banks are mainly, city commercial banks supplemented, and the foreign banks enter gradually. It can be described as the competition is very fierce. Become market demand tends to be saturated; the banking industry suffers a bottleneck to the development. However, with the rapid growth of the economic, national income has increased year by year. The financial needs of individuals and families are growing. The future of the retail banking business is bright. Retail banking business is becoming the new economic and profit growth point of banks. Retail banking service is as the financial products for the carrier, as customer demand for guide, providing activities of service to individuals, families, self-employed persons and small and medium-sized enterprises. Therefore, whether the ability to meet customer demand for service, and the quality of service allows the customer satisfaction, have a huge impact on the bank’s development. To the bank, customer equity is an intangible wealth. If a company can provide quality service contributing to repeat purchase, which increase market share, enhance the core competitiveness, and create competitive advantage. Bank of China is one of the four state-owned commercial banks. It has experienced a joint-stock reform, and embarked on the market-oriented road gradually. Formulating development strategies is not as planned economy for guide, but as the core customer. It grasps the customer resources firmly, to have an invincible position in the fierce competition. However, Bank of China faces the plight of the homogeneity of the financial product, and there are still defects in service quality, service delivery, service advocacy and service organizations. It needs to learn from the experience of foreign banks, and dissects customer needs, service-aware content and ways. It needs to develop effective strategies to enhance customer perceived value and repeat purchase intention.The main research content of this article is retail service marketing strategies for Bank of China based on customer perceived value. Firstly, collect and organize literatures of the concept and elements of the customer perceived value, and research the customer satisfaction, customer repeat purchase intention and service marketing strategy. Based on this review, summarize the results of previous studies and shortcomings. Secondly, analyze the competitive environment of the retail service of Bank of China by the SWOT analysis method, and explore the way and content of customer perceived value in the Banking, and the impact of service strategies on customer perceived value. The author found that there are still defects of the Bank of China’s retail service. Thirdly, establish the customer perceived value model based on the concrete situation of banking and the previous studies. Hypothesize according to the mode, by the questionnaire survey of the existing customers of the Bank of China, and collect data, using SPSS statistical analysis tools to prove that the assumption is substantiated or not, in order to explore the relationship between customer perceived value, customer satisfaction and repeat purchase, providing ideas for the development of service strategy. Finally, against the status of service of the Bank of China, and combine with earlier research conclusion, develop and implement effective marketing strategy, improve customer perceived value and enhance the customer repeat purchase rate, cultivate customer loyalty.