Research On Retail Marketing Of Commercial Bank

As early as the 1960 s,the retail business of commercial banks was favored by some developed countries in Europe and the America because of its advantages of low risk and high profit contribution.They are constantly exploring ways to develop the retail business and have established a perfect customer service system for retail banks,besides their profit contribution to retail banking even can reach 50%.In recent years,along with the deepening of China's financial reform,the financial industry has developed rapidly and financial supervision has become increasingly severe.Through the quickened steps of interest rate liberalization,the narrowing of deposit-loan spreads and the accelerating of "financial disintermediation",Chinese commercial banks have gradually shifted their development emphasis to retail business.Apart from the traditional deposit and loan business,commercial banks have launched investment and competition in the design and development of new products,such as wealth management,electronic banking,network transformation,and science and technology system development,and so on.Under the background of marketization,we should clearly realize that it is not sustainable to rely on traditional margin interest profit model.Therefore,it is necessary to change the profit model,to adjust the business structure reasonably,and to make the retail business as the priority of future development which is relatively less affected by the economic fluctuation.Based on the analysis of the marketing theory of retail business of commercial banks,this research takes Bank of Nanjing as an example to analyze the marketing status of retail business by SWOT analysis.It will design and create a new marketing strategy from four factors: customer demand,customer cost,customer convenience and customer communication,combined with the characteristics of Nanjing bank and using the marketing theory of STP,4P and 4C.Combined with the practical experience and successful cases of advanced banks,the effective implementation plan of the retail marketing strategy of Nanjing bank is given from four aspects: product strategy,price strategy,channel strategy and promotion strategy.It is great practical significance for the Bank of Nanjing,which started the retail business relatively late since the reform of the original city credit cooperatives through the analysis of this thesis.It is helpful to accelerate the retail business marketing transformation and improve the core competitiveness.It also provides relevant ideas for other domestic similar commercial banks to adapt to the market demand.