Study On Factors Affecting Banking Financing Products Demand And Countermeasures For Residents In Tianjin

With the development of economy and the continuous development of the era, thebank financing business develops quickly in China. Banking financial product is not onlyan important source of profits of commercial banks, but also an important way to maintainand increase the value of assets for residents. The types and amounts of banking financialproducts grow rapidly. Facing so many banking financial products, it is very hard forinvestors to choose one that suits them best. The heavy competition in bank financialproduct market cause many problems in the process of sales, for example, the sales staffdon’t disclosure risks of financial products clearly or the investors bought the products thatnot suitable for themselves. Bank financial products set up a bridge between thecommercial banks and investors. In order to ensure the interests of both sides, includingcommercial banks and investors, and further promote the healthy development of thebanking financial products market, the banking products designed by banks should meet thedemand of investors. In order to make it easily for banks to sell products and better meetthe needs of investors, bankers have to understand and excavate the demand of investors.This will make it easily to develop appropriate financial management plan for investors andchoose the suitable financial products to meet the customers’ financial goals. Consumerattitudes and the value of wealth management in different regions will be a great difference.Therefore, this article discusses the special problems of financial products market presencein Tianjin from the perspective of Tianjin residents’ demand for financial products, thenputs forward the corresponding development recommendations based on specific issues inTianjin market.The main content of this article is divided into five parts.The first part is introduction. This part elaborated the background and significance ofthe selected topic, relevant literature review on bank personal finance products, summarizedthe main content of this paper, and illustrated the research methods and the innovation ofthis essay.The second part introduced the related concepts, classification and related theory ofbank financial products. This part elaborates the definition of bank financial managementproducts, classifications according to different standards and related theory such asMaslow’s hierarchy of needs, Portfolio Theory, Consumption and saving life cycle theory.Finally, a simple outline of the general factors influencing the bank financial productdemand, mainly including product factors (such as the starting point, time limit, profitability, safety),bank factors(such as the bank’s brand and strength, the number of bankbranches and convenience, the way to conduct products), investors factors(such as age,education level, occupation, income, the will to share personal and family’s information).The third part is a questionnaire analysis of residents’ financial products market inTianjin. This part gets information and data by way of questionnaire, then uses SPSS19.0conduct factor analysis and regression analysis to find the key factors affecting the residentdemand for banking financial products.The fourth part summarized the market characteristics and existing problems in Tianjinfinancial products market. This part obtained information through questionnaires, andsummed up the characteristics and the existing problems of the market.The fifth part proposes suggestions to perfect the Tianjin residents’ bank financialproducts market from the perspective of demand. According to the factors influencing thedemand of bank financial products analyzed in the third part and the characteristics andproblems of Tianjin bank financial market summarized in the fourth part, then processsuggestions to perfect the Tianjin residents’ bank financial products market from theperspective of demand.This article argues that there are a lot of factors influencing the demand of bankfinancial products in Tianjin, but the influence degree of each factor is different. Firstly, themost important factors are the intention to share personal and family information with bankstaff, investors’ risk assessment of bank financial products, the profitability of wealthmanagement products, the starting amount, the time limit. Secondly, the service attitude ofbank staff, investor education level and age, marital status, income and so on. These factorshave significantly influence on demand for bank financial products in Tianjin. Besides, thebank’s brand and strength, the number of bank branches and convenience, conduction waysof bank financing products have a certain influence on the demand for bank financialproducts. In addition, this article found that the effect of relatives and friends’ recommendwas not significant.