Research On Competitive Differentiation Strategy Of Personal Financial Business For Bank Of China

With residents’ disposable income continues to increase and accumulate personal wealth, spare funds affluent communities and residents need new investment channels, domestic commercial banks have begun to gradually realize the importance of the development of personalized financial services. Bank of China to provide comprehensive financial services as commercial banks, although the earlier launched the personal financial services, wealth management has established a three-tier system, but with the gradual liberalization of the financial markets, foreign banks began to get involved in the domestic market and personal financial products show strong trends, coupled with the domestic industry competition between banks as a result of China’s existing financial services homogeneity and low service marketing capabilities, has been difficult to meet the market demand, and as a constraint to the development of personal financial services prominent factor, which requires the Bank of China personal financial services must compete for scientific strategic planning.Differentiation strategy as a business and a means of effective competitors in product differentiation, also has significance for the conduct of personal financial services in commercial banks. Based on this, the Bank of China personal financial services to competitive differentiation for the study, to study its competitive differentiation problems and the implementation of measures and safeguards to help through differentiation strategy to build competitive advantage of Bank of China to improve market competitiveness.First, we use the literature study on the difference of marketing theory and elaborate theory of competitive strategy, and personal financial services and commercial banking competitive differences were defined. Secondly, the use of empirical analysis of the current situation, Bank of China to discuss personal financial services, in contrast to the analysis of domestic and foreign commercial banks, Bank of China and personal financial services for competitive differentiation on the basis of the Bank of China pointed out personal financial services problems of competitive differentiation; Again, SWOT analysis of the Bank of China, the development of personal financial services internal strengths and weaknesses and external opportunities and threats in-depth analysis, with the SWOT matrix model and competitive strategy theory to analyze the use of the Bank of China personal financial services necessary for competitive differentiation strategies and significance, and the products, services, channels, and brand four levels of the Bank of China personal financial services differentiation strategy designed. Finally, discusses the implementation of the Bank of China personal financial services differentiation strategy, while the management, marketing and resource allocation three angles build competitive differentiation strategies to implement safeguards.In a diversified investment channels and financial level residents gradually transformed and upgrade today, the internal and external environment, the Bank of China only to personal financial services in which a comprehensive analysis, conducted on the basis of competitive differentiation, and establish a scientific and efficient management system marketing system and resource allocation system, to be able to maintain a unique competitive advantage in the fierce market competition.