Research On Retail Business Marketing Strategy Of CITIC Bank Zhengzhou Branch

Sin At present,with 40 years implementation of China's reform and opening-up policy,China's economic structure has been continuously optimized,and the reforming of corresponding financial system are also proceeding simultaneously.As financial institutions have spread all over the world today,the retail business of commercial banks has undoubtedly become a cash cow for every financial institution.Due to its features of high profit and low risk,the retail business has enjoyed great popularity among major financial institutions.China CITIC Bank Zhengzhou Branch was established in March,1998.The continuous development of the economy has made the banking industry's competition more intense in China.Residents' income level has been steadily increasing,and the individual customers' demand for commercial banks' financial service has also improving.Therefore,the transformation and innovation of personal retail business has become the consensus of the domestic banking industry.Compared with foreign-funded banks and China's four major state-owned commercial banks,China CITIC Bank Zhengzhou Branch was established later,but it has developed rapidly with a stronger sense of service.However,most of the domestic banking institutions have problems such as weak service awareness,single and traditional financial products,as well as irregular business procedures.As the tier-one branch directly under China CITIC Bank,Zhengzhou Branch also has problems in the aforementioned respects.For example,in terms of product,its product design has not yet formed a relatively complete system and function;in terms of resource integration,the middle and back office departments do not have sufficient incentives and coordination mechanism to support the retail sector to expand the market.In fact,the hidden reason behind these problems is the Zhengzhou Branch's shortcomings in aspects of product structure,pricing,channel,promotion method,and the construction of customer managers.Therefore,this thesis attempts to solve Zhengzhou Branch's current problems from the retail business marketing strategy.This thesis takes the current situation of China CITIC Bank Zhengzhou Branch's retail marketing strategy as the starting point,introduces the development process of domestic and foreign commercial banks' retail business in literature,analyzes the macro environment and industry competition of China CITIC Bank Zhengzhou Branch's current marketing management on the retail business through the PEST analysis model,analyzes the problems existing in China CITIC Bank Zhengzhou Branch's retail marketing strategy,and proposes the corresponding improvement measures for the marketing strategy: strengthen efforts to the research and development of new products,enrich the connotation and type of products,explore new models of supply chain,implement the diversified pricing strategy,conduct fine management on product pricing;optimize the layout of bank outlets,accelerate innovation and construction of channels and take advantage of Internet finance;change concepts in promotion,adopt diversified promotion methods,etc.,jointly constitute the retail business marketing strategy system;and scientifically build a mechanism for constructing the customer manager team,who can provide theoretical guidance for China CITIC Bank Zhengzhou Branch to enhance its retail business competitiveness.