| Since the 30-year reform and opening up with the rapid economic growth taking place,the disposable income of residents has been greatly improved,which caused the higher demand of wealth management business for the high-net worth individuals.As rarely of them knows how to manage their wealth,the more incline to choose wealth management institutions to achieve the high-quality asset preservation and appreciation.This phenomenon represents a broad prospect for the development of Chinese wealth management industry.At the same time,the further progress of financial innovation and regulation also provides infinite opportunities for the development of C bank wealth management business.C bank,as a pioneer in the domestic wealth management business,has a larger market share.Additionally,the high degree of internationalization of the group’s advantages in cross-border business also place C bank in a leading position in the country.Under the increasingly fierce competition,the pressure of new entrants and the developing Internet finance,how to build a professional brand of wealth management for C Bank Qingdao branch that enables it continually maintain the competitive advantage in the industry,has become a significant issue for C bank.This paper involves the concept of wealth management and relevant strategies against the competition,to investigate devolvement backgrounds in terms of economic environment,political environment,social environment,technical environment and other industries by using PEST analysis.The result shows that the growing economy and the increasing income of the residents can provide infinite possibilities for the development of the wealth management.In other words,the more opportunities and challenges the C bank is facing.In addition,the five forces model is utilized to analyze the wealth management industry.The analysis strongly suggests that it is necessary for C Bank Qingdao branch to constantly increase investment of resources,produce and promote competitive products and services,to enable the market share continually and steadily grow.Furthermore,the internal conditions such as various resources and core competitiveness are also considerable to analyze the wealth management business for C Bank Qingdao branch.I use the SWOT analysis to discuss the advantages and disadvantages of the C Bank Qingdao branch and what the opportunities and challenges it faces.By analyzing how to take full play of advantages,make up for the shortcomings,seize the opportunities and meet the challenges,I finally conclude that C Bank Qingdao branch should adopt a differentiated competitive strategy in the wealth management business.In the process of the implementation of differentiated competitive strategy,mainly through product differentiation,service differentiation and talent differentiation.First,strengthen the cooperation with suppliers and accurate positioning high net worth customers,make full use of highly international competitive advantage in product innovation,so as to implement product differentiation;secondly,by further subdivision level of high net worth clients,and according to the different needs of various customers and the level of existing resources,so as to implement differentiated services;finally,through the promotion of literacy programs and supporting team construction professionals,and open up the technical and management personnel occupation channel sequence sequence,so as to implement the personnel differentiation. |
