Guangdong Development Bank Credit Card Marketing Strategy Research

With the development of world economy and the improvement of living standard of people, credit card has become a commonly used payment and settlement method, and a core incredible part of retail banks. Many banks view credit card business as its important profit growth point which they invest much in, expecting to achieve economies of scale through increasing market share, which brought about a severe competition in credit card business among banks. However Guangdong Development Bank is quite weak in its credit card business, and its marketing strategy is also questionable, so an adjustment is needed in its present credit card marketing strategy. Therefore, this article analyzed the marketing strategy of Guangdong Development Bank, which will guide the development of its credit card business and will provide a reference to other banks.This article is based on marketing environment analyzing theory,4Ps and STP theory. Firstly, this article analyzed the development status of credit card and the existing problems in its development. Secondly, this article analyzed the marketing environment of GDB credit card business from a macro and micro point of view, dissected the advantage and disadvantage in its competition and the opportunities and challenges that it faces using SWOT theory. Thirdly, this article illustrated the present marketing strategy of GDB, discussing the existing problems in it and corresponding suggestions. In its product strategy, more competitive products should be developed and service should be improved to highlight the characteristics of its brand. In its pricing strategy, the previous indistinctive pricing should be changed to distinctive one based on the consuming behavior of customers to boost the profits of the banks. In its distribution strategy, new distribution channel should be expanded, and cross marketing and jointly named marketing with companies of abundant customers should be employed; this multiple distribution channel will help GDB take up more markets rapidly. In its promotion strategy, advertisement campaign is suggested to highlight its brand awareness, and GDB should grasp every opportunity to interact with its customers to increase their experience and sense of belonging to improve the loyalty of the customers. Finally put forward the college students’ credit card has a broad development prospects, but at the moment, many Banks have pulled out of the college students’ credit card market, GDB should carry on the thorough research and analysis, grasp the new trend of developing the credit card market.