Analysis Of J Bank's Retail Business Marketing Strategy Under Internet Finance

In recent years,Internet finance services represented by Internet payment,Internet investment,and Internet financing have flourished and gradually penetrated into the retail business of traditional commercial banks,which has had a tremendous impact on the development of traditional commercial banking retail business.For traditional commercial banks,it is particularly important to analyze the characteristics of Internet finance and its impact on the banking industry.The same is true for J Bank,a large state-owned commercial bank.This paper firstly analyzes the development,the history and the current situation of Internet finance and the retail business of bank,and then analyzes the macro environment and market environment of Bank J by using five-force model.In conclusion:The industry concentration of China's banking industry is relatively high,but it is decreasing year by year.The product innovation is insufficient and the degree of homogenization is high.At the same time,the management level of foreign banks is advanced and develops rapidly,and they continue to occupy the market share of commercial banks in China.The continuous rise of third-party payment platforms such as capital operation companies and Alipay,and the continuous application of new technologies have made financial disintermediation a serious phenomenon;depositors and lenders have relatively weak bargaining power,but they are showing an increasing trend,which reduces the bank's profitability.The traditional business model of commercial banks is difficult to maintain growth.Under the pressure of high capital cost,financial disintermediation,peer supervision and interest rate marketization,the development of commercial banks has encountered great challenges.Internet finance has had a profound impact on J Bank in terms of diversion of deposits and customers,subversion of service models,lowering of wealth management thresholds,and accelerating interest rate liberalization.This has led to the emergence of J Bank's retail market positioning,distribution channels,customer mining,and financial technology applications.How to solve these problems in the existing environment is a need for J Bank to think deeply.This paper puts forward feasible suggestions for the retail marketing of J Bank from the aspects of retail business market positioning,product strategy,price strategy,channel strategy and customer service strategy.Finally,it designs the safeguard measures for strategy implementation to actively embrace financial technology.Promote the innovation of J Bank's retail business,optimize the management organization structure,strengthen the marketing team building,strengthen the integration of retail marketing management,fully meet customer needs,and enhance the comprehensive competitiveness of J Bank's retail business.