Research On Marketing Strategy Optimization Of Bank Of China Retail Business

The growth of domestic household wealth has brought opportunities for rapid development of retail business,while the growth of public business has been slow in recent years.At the same time,retail business has the characteristics of high profit,low capital occupation and low risk.It makes domestic banks regard retail business as a new revenue and profit growth point,changing the previous public-oriented strategy,increasing investment in retail business,and initiatively transforming into "big retail".How to cope with the change of customer behavior and demand brought by the Internet era and financial disintermediation,optimize the marketing strategy of retail business,find the way of transformation suitable for their own development under the increasingly fierce competition of retail business,and enhance their competitiveness has become the research focus of all banks.Bank of China Pingtan Branch Retail Business lacks star products and homogeneity is serious.The marketing team can not provide complex product portfolio options.The price sensitivity is insufficient,the price strategy is insufficient,the diversity and continuity of promotion is insufficient,the proportion of effective customers in mobile banking channels is low,the professionalism of personnel is insufficient,the physical evidences is more rigid and the positioning is not implemented,the customer management process and service process need to be improved.The main reason is that domestic retail banks are undergoing the transformation from 1.0 era to 2.0 era,andBank of ChinaPingtan Branch is restricted by the management mechanism of the head branch,and employees are not aware of the transformation.This paper studies the literature related to the marketing strategy of bank retail business at home and abroad,takes the retail business of Bank of China Pingtan Branchas a case study,combines the comparative analysis method and questionnaire survey method to analyze the development status of retail business,and through SWOT analysis method and marketing 7Ps theory,describes the strengths,weaknesses,opportunities and challenge of the retail business of Bank of ChinaPingtan Branch,the current situation of products,prices,promotions,places,personnel,physical evidences and process in marketing strategy,and analyze the existing problems and causes.On this basis,by referring to the successful cases of China Merchants Bank and Wells Fargo Bank,the paper puts forward the marketing strategy optimization suggestions and implementation guarantee of the retail business of Bank of China Pingtan Branch.The optimization suggestions include product innovation and star product system,differentiated pricing,diversified promotion,vigorous promotion of mobile banking,promotion of professional level of marketing staff,optimization of network layout and positioning,refined process management,while providing guarantee for the implementation of optimization suggestions from aspects of personnel security,mechanism security and resource security,in order to gain advantages in competition.