Research On BT Rural Commercial Bank's Retail Business Marketing Strategy

In recent years,with the basic completion of the interest rate liberalization and the vigorous development of Internet finance,the development of the banking industry has entered a new historical period and presents a series of new normalities.For example,the overall growth rate of the industry slowed down,the return on assets continued to be low,and new regulatory regulations emerged in an endless stream.The behavior and expectations of customers' financial consumption changed significantly.This makes the product evolve into a comprehensive financial service solution.The innovative use of information technology(big data technology)has become an important strategic resource.In order to better cope with and adapt to changes in the new normal and create lasting competitive advantages,commercial banks must establish differentiated business models and create unique marketing strategies.Based on this background,BT Rural Commercial Bank,as the local bank of Baotou City,akes ‘serving the areas of agriculture,rural areas,and farmers and supporting small and micro businesses' as its own responsibility,and has also taken the initiative to put forward the goal of ‘retail reform and marketing first'.To investigate the internal and external environment of corporate development in the current economic situation,analyze the company's strengths and weaknesses,face the opportunities and challenges in business development,in order to conduct market segmentation,define the target market,and formulate marketing strategies suitable for the Bank's retail business development.This article is divided into seven parts.First of all,we talk about the basic information of the research.Then ideas and research methods.Then,based on the theories of marketing combination theory,PEST analysis model,STP theory and SWOT analysis model,the marketing environment,marketing status and existing problems of BT Rural Commercial Bank were analyzed in detail.Afterwards,SWOT analysis was conducted by listing the external advantages and disadvantages faced by the bank and the external opportunities and threats faced by the bank.Finally,the market segmentation of BT Rural Commercial Bank's retail business market was conducted and the target market was clarified.Based on the marketing theory,a strategy for the bank's products,prices,channels,and promotions was put forward.As well as the human resources,financial support,and technological support measures that indicate the implementation of marketing strategies.Through the study of this article,we can improve the existing marketing strategy of BT Rural Commercial Bank,in order to provide certain theoretical guidance and experience for other similar banks.