Research On The Marketing Strategy Of Bank Of Shanghai's Retail Business In Ningbo

In recent years,following the continuous investment of foreign banks in China and vigorous growth of internet banks,the business of commercial banks in China are being shared.Meanwhile,the profit of traditional commercial banking business is being gradually reduced due to further reform of financial interest rate marketization.Under such “ domestic trouble and external invasion”,commercial banks have adjusted their strategic direction to the retail business,in order to seize more market share and gain more profit.Retail business has been more and more favoured by all banks owing to its extensive client base,steady returns,dispersed risk and huge potential.Nowadays retail business competition among domestic commercial banks has become increasingly white-hot and how to make the retail business effective and select better marketing strategies are becoming very important.Concerning the retail business of commercial banks,to develop and implement effective marketing strategies can not only improve comprehensive competitiveness,win more target customers,achieve the established business objectives,but also crucial to long-term healthy development of commercial banks and fundamental to achieving the aim of “Have something to eat in the future” in banks.The retail business of commercial banks in our country should continue to absorb the advanced experience from domestic and foreign benchmarking banks,such as Citigroup,HSBC,CMB and so on.This article takes the Bank of Shanghai,Ningbo Branch as the research object,with the background of current financial environment,strategic transformation in headquarter of Bank of Shanghai,and successful listing in the stock market of Bank of Shanghai,starts from current retail business status and marketing model in Ningbo Branch,then analyzes the problems and its causes which exist in the current marketing strategy and finally develops optimal solutions to integrate comprehensive competitiveness and improves weak development caused by late starting of retail business in Ningbo Branch.By using SWOT analysis,advantages,disadvantages,opportunities and threats in Ningbo Branch of Bank of Shanghai will be analyzed in this article and optimal proposal of marketing strategy forproduct,pricing,channel and promotion etc,which are also suitable for the retail business development in Ningbo Branch of Bank of Shanghai will be propounded by subdividing the market of retail business,clearing target market and market positioning according to STP theory and combined with 4P marketing mix strategy.