Research On The Competitive Strategy Of Rural Credit Cooperative D Under The Background Of Internet Finance

With the gradual development of China's Internet technology,a variety of Internet financial products emerge in an endless stream,which not only provide people with convenient financial services,but also meet the needs of people's individualization and popularization.As a result,Internet financial enterprises have been developing and growing rapidly,and they are competing with traditional commercial banks in terms of customers,business and market.Rural credit cooperatives,as the main force of rural finance service,have greatly improved the business level of Internet finance through strengthening the construction of electronic and information technology.However,in the face of the increasingly fierce competition in the rural financial market and the impact of Internet finance,there are still many new problems in the field of operation,service and management.In the increasingly fierce competition environment,how to make full use of their own advantages,develop and expand their own internet financial business,and carry out effective competition with other competitors has become an urgent problem for rural credit cooperatives.Firstly,this paper,based on the background of Internet finance,taking D rural credit cooperatives as an example,uses Porter's five forces competition model to analyze its competitive environment and finds that it not only has direct competition with the existing commercial banks in its jurisdiction,but also is threatened by new entrants such as village banks.More importantly,a huge impact of the third-party payment,Internet financing,network loans and other substitutes on the traditional deposit and loan business,payment business and existing Internet business of D rural credit cooperatives has been made.It can be seen that the competition environment of D rural credit cooperatives is extremely fierce and the bargaining capability of fund providers and purchasers is relatively improved.D Rural credit cooperativesurgently needs to transform business model,improve product innovation ability,improve service concept and adopt diversified marketing methods to deal with the impact of Internet finance.Secondly,the SWOT tool is applied to analyze the D rural credit cooperatives in details.The competitive advantages,disadvantages,opportunities and challenges are cleared and the feasibility analysis and selection of the three competitive strategies are conducted.Furthermore,the competitive strategy,focusing on differentiation and supplementing by centralization,of D rural credit cooperatives under the background of Internet finance could be proposed.D Rural credit cooperatives should implement the strategy of centralization in the service object and development focus,adhere to the orientation of supporting agriculture and supporting small businesses.Moreover,it will be continued to provide comprehensive financial services for farmers,individual businesses,small and micro enterprises and urban residents and implement the differentiation strategy in business model,financial products,financial services and marketing methods to improve the competitiveness of enterprises.Finally,combined with the actual situation of D rural credit cooperatives,the paper puts forward specific differentiated competition strategies in the above four aspects,including paying attention to the development of Internet financial business,building characteristic business outlets,accelerating the improvement of Internet financial platform,focusing on the innovation of differentiated financial products,applying big data to analyze service demand,providing differentiated services for different customers,carrying out employee marketing,online/offline marketing differentiation.And the related guarantee measures are also proposed.