Research On Private Banking Marketing Strategy Of Bank A Inner Mongolia Branch

Private banking is an Ivy League business.It sprouted in the crisis and grew in the development.It has survived for hundreds of years.With the steady growth of China's economy and the rapid accumulation of wealth,the era of big capital management is beginning.Compared with European and American countries,China's high-end private banking wealth management market is still in an emerging stage,with a relatively short development time.At present,the private banking business of commercial banks plays a dominant role in the whole private banking market.According to Bain's consulting research,it is estimated that by the end of 2018,the number of high net worth people with investable assets of more than 10 million RMB will reach 1.87 million,and the scale of investable assets will exceed 58 trillion RMB.By 2020,the number of high net worth households in China is expected to reach 335 digging protection,with about 165,500 high net worth households with assets of more than 20 million US dollars.China's private wealth market continues to release considerable growth potential and huge market value.Under the new normal state of economic development,China has transformed its growth rate from about 10% to about 7%.The mode of economic development has shifted from extensive growth of scale and speed to intensive growth of quality and efficiency.The economic structure has shifted from incremental expansion to deep adjustment of both stock and optimal increment.The driving force of economic development has shifted from traditional growth point to new growth point.China's economy will evolve to a stage of higher form,more complex division of labor and more rational structure.Whether commercial banks can adapt to the trend of economic development and actively make adjustments and transformation is the key to long-term development in the future.Private banking is one of the most important business in the transformation and development of commercial banks.The development of private banking is of positive significance for commercial banks to promote the optimization of business institutions,the upgrading of customer structure and the transformation of income structure.Starting with the development of private banking business in Inner Mongolia Branch of Bank A,this paper firstly analyses the macro-environment,industry competition environment,customer characteristics and customer needs of the development of private banking business in Inner Mongolia Branch of Bank A,and at the same time analyses thecurrent situation and problems in the process of business development and marketing of the bank.Based on the Enlightenment of domestic and foreign banks on the experience of private banking business marketing,the paper puts forward some suggestions for Improvement measures and optimization suggestions of marketing strategy.This paper argues that there are five aspects of Bank A's marketing strategy,namely,product,price,distribution,promotion and service,which need to be improved.Product strategy pays attention to product types and competitiveness,price strategy pays attention to the change of profit model,distribution marketing pays attention to multiple channels,promotion strategy pays attention to advertising and large-scale exhibition,service strategy pays attention to content and details.