HSBC Financial Product Marketing Strategy Case Study

Different customers have different needs for wealth management products.Banks should respect each person's needs,rather than simply defining a product to be the best choice for customers to promote.HSBC,which was the first to break the traditional sales ideas of the financial industry and launched a new concept of asset allocation centered on customer needs.Instead of holding the bank's existing financial list for recommendation,it is a serious analysis of each customer's personal needs so as to personally find the most suitable financial products that meet the real needs of customers.This paper combines the actual cases in daily work to address the difficulties encountered in implementing the customer-centric asset allocation marketing strategy at HSBC,and proposes three major issues affecting the smooth implementation of the new marketing strategy.It takes a long time for the customer to accept the new marketing strategy.At present,there is no deep recognition of the demand-centered tailor-made concept;the mining of customer needs depends on skilled and professional skills,and the time required to lock the real needs of customers is too long.Reasonable asset allocation needs to meet the real needs of customers.If the products on the bank rack are not rich enough,there is no way to meet the real needs of customers.In response to these three main problems,this paper combines the classic theories of management science,such as PEST analysis,SWOT analysis,customer relationship management,4P theory,etc.,to analyze the causes of problems and find solutions to problems.It is hoped that through this case analysis,it can find a breakthrough to improve the shortcomings of HSBC's new marketing concept at this stage,and make the marketing strategy centered on customer needs more effective.While increasing the income of HSBC's wealth management products and gaining more profits,it can also enhance the relationship with customers and maintain the closeness of customers and banks.This will not only help HSBC's current product marketing promotion,but also be useful for other related industries.