Study On The Marketing Stategy Of The Private Banking Business Of XY Bank

Private banking is an important part of the financial industry and has been fully developed in Western countries.With the rapid development of our economy and the rapid accumulation and promotion of national wealth in recent years,more and more wealthy groups have emerged in China,which makes private banking have a broad market demand and development direction.So far,Chinese banks began to compete to develop this business and expand market share of private banking.On the one hand,as a joint-stock bank,XY Bank has a short time to start private banking business,but its development speed is fast.There are some problems in the process of development,such as lack of excellent customer manager team of private banks,homogenization of private banking products,etc.On the other hand,under the background of the new capital management regulations and the diversification of financial market in 2018,XY Bank is facing opportunities and challenges.Therefore,through the analysis of the current situation of XY Bank’s private banking business marketing,this paper puts forward specific marketing strategies to provide advice for the development of XY Bank’s private banking business.This paper first clarifies the private banking business of XY Bank as the research object.Firstly,it combines the marketing theory with the marketing practice of XY Bank,objectively analyses the current marketing development situation of XY Bank,then uses the PEST analysis method to analyze the macro environment it faces,and uses the five-force model to analyze the competitive situation faced by the private banking business of XY Bank.SWOT analysis is used to further analyze the competitive advantages and disadvantages of XY bank private banking business,various potential threats and development opportunities.According to the conclusion of the analysis of the competition situation,this paper uses STP model to divide the private bank’s market,select and locate the target market.Finally,it gives the marketing strategy of XY bank’s private banking business to solve the current problems from four aspects:product,price,promotion and place,and puts forward several safeguard measures to ensure the above-mentioned private banking business.Effective implementation of marketing strategy of human banking business.Through the analysis of this paper,it can provide some reference for the development of private business of banks in China,and promote the enrichment and development of the marketing theory of banking business,and provide a suitable development route for improving the private business of XY Bank and other banks in the future.