| As China’s financial market is fully open to the outside world,foreign banks have begun to seize China’s wealth management market with their extensive experience in private banking.China’s economy has developed rapidly and the wealthy class is growing in size.The Chinese banking industry has also begun to realize that the private banking business has played a role in the profitability of the bank,relying only on traditional businesses that cannot keep pace with the times.Major banks have started to engage in private banking.Private banking business is still in its initial stage of development in China,but with the rapid growth of China’s economy and the rapid accumulation of wealth,private banking business is facing unprecedented opportunities and challenges.China already has a large number of affluent people,which means that the target customer base of private banking business in China has already formed.For major financial institutions,the development of private banking business can not only obtain higher profits than traditional businesses,but also can play a role in promoting the transformation of banking business model,upgrading the image of the banking industry,and bringing customers closer to high-end customers.As a result,the industrial and commercial bank of China as the front-runner in the banking sector also vigorously develop the private bank business areas,from the height of the strategy to promote the market development of private banking,rapidly changing management mode,to promote the high end customers as retail business development capacity "main engine" of the competition,the private banking business into a big industrial and commercial bank of retail in transition "enforcer,vanguard,knife",will build China’s most outstanding private banks,private banks as a private bank customer’s preferred brand goal,establish our absolute advantage in the private banking business.Based on the theory of marketing,this paper uses SWOT analysis to conduct in-depth analysis and research on the marketing environment of the private banking business of the Industrial and Commercial Bank of China,Shandong Branch,and obtains the current competitive advantages and disadvantages as well as opportunities and threats.In view of the current status of the private banking business of the Industrial and Commercial Bank of China,Shandong Branch,and the problems in the marketing process,the private banking experience of internationally mature banks such as UBS,HSBC,Citi,and Hang Seng is used as the private bank of ICBC Shandong Branch.The business has formulated effective marketing strategies in terms of products,prices,channels,promotions,personnel,tangible displays and processes,and has formulated corresponding safeguard measures for the implementation of marketing strategies.I hope that through the above research,we can solve the problems existing in the marketing process of private banking business in Shandong branch of ICBC,and explore some new ways to solve the problems,so as to play a referential role in the development of private banking business of other financial institutions in China.Innovation point of this paper is in reference on the basis of related literature at home and abroad,with industrial and commercial bank branch of shandong as an example,according to the development of the existing situation and the problems put forward reasonable marketing measures and safeguard measures,not completely copy the western private banking business model,not constrained by organization structure,product or service,such as a single category,broaden the scope of the research on Chinese private banking brand. |
