Research On The Marketing Strategy Of Personal Wealth Management Products In Zibo Branch Of WH Urban Commercial Bank

Economic development brings wealth accumulation.With the rapid development of the national economy,the income of residents has grown rapidly.As an important choice for people's wealth,commercial banks' personal wealth management products are becoming increasingly mature and expanding in scale.Since 2013,with their high yields and high liquidity internet financial business products such as Yu'e Bao have been loved by customers,and have become a major force eroding the market for personal financial products of commercial banks.New regulations,such as the Opinions on Regulating the Asset Management Business of Financial Institutions and the Measures for the Supervision and Management of Commercial Banks' Wealth Management Business,have been released in 2018,making 2018 the transition year for the wealth management business of commercial banks in China.It can be said that with the continuous improvement of new Internet technologies and the acceleration of financial reform,the personal financial management business of urban commercial banks will usher in significant historical development opportunities.Only by accelerating business innovation and transformation can we seize the opportunity of financial market development.This article focus on the Zibo branch of WH City Commercial Bank.Firstly,I analyzed the internal and external environment the bank facing.Following the classic 4P marketing theory,and being in the form of customer satisfaction surveys,combined with the bank's marketing data since 2016-2019,it was found that the individual of WH City Commercial Bank still had many shortcomings in the marketing stage,although the marketing of wealth management products started well and the growth momentum was obvious,with the deepening of financial market reforms and the increasingly severe competition in financial products.In the end,the analysis showed that Zibo Branch of WH City Commercial Bank can take some action to achieve market share expansion and increase operating profit.For example,in terms of products,it can set up a good corporate image,build a team of experts,and promote product transformation;In terms of price,it can launch a private order for high-end customers;In term of channels,it should abandon We Chat Bank and explore a new model of direct selling banking;in term of selling,it should improve training and carry out wealth management product points activities,etc.The research in this article will not only help WH City Commercial Bank Zibo Branch to optimize existing marketing strategies,to improve the competitiveness of personal wealth management products,improve business performance,but also to provide references for other peers to optimize marketing strategies.