Research On Marketing Strategy Of CY Rural Commercial Bank’s Personal Financial Business

With the rapid development of the domestic financial industry and the popularization of interest rate marketization,great changes have taken place in people’s personal wealth management.Moreover,the rapid development of Internet finance makes commercial banks face great competitive pressure.Commercial banks are facing dual market repression and are in business difficulties.They must try to maintain their competitive advantage in the market environment of internal and external attacks.Most commercial banks have launched personal financial services,and personal financial services have become the core of competition among commercial banks,with the increasing awareness of residents’ financial management,the contradiction between the urgent financial needs of customers and the unbalanced and insufficient development of personal financial management market is prominent.Therefore,it is of great significance to carry out the research on personal financial management business of commercial banks.With the continuous enhancement of China’s economic strength and the rapid accumulation of per capita disposable income and household surplus wealth,the growing demand for personal investment is in sharp contrast to the scarcity of a single personal investment channel.People have great expectations for personal financial investment products.Firstly,this paper selects CY rural commercial bank as the research object,analyzes the current marketing situation of its personal financial business from the aspects of the market demand of personal financial business and the internal environment of the enterprise,and discusses the development path of commercial banks in the field of personal financial business under the background of financial reform.Secondly,the questionnaire survey method is used to analyze the problems in the product strategy,price strategy,promotion strategy,channel strategy,service strategy,tangible display strategy,process management strategy and other aspects of CY rural commercial bank’s personal financial business,and to analyze the reasons for the problems in its personal financial business marketing strategy.Finally,this paper puts forward some suggestions on the optimization and improvement of marketing strategy based on the marketing theory of 4P and the marketing theory of 7Ps,as for the improvement of product strategy,we should organize professionals to conduct market research,analyze the core demands of personal financial customers,develop financial investment products that meet the needs of high net worth,wealth and mass customers,strengthen brand building,and provide differentiated personal financial products.As for the improvement of price strategy,the "group purchase" pricing model and product portfolio pricing model are used to improve the price competitiveness of products through diversified pricing and flexible pricing mechanism of financial products.With regard to the improvement of channel strategy,new media marketing activities are carried out relying on the online platform,and collaborative relationships are established with business outlets to optimize physical marketing,and online and offline linkage marketing is carried out to achieve efficient utilization of channel resources.As for the improvement of promotion strategy,learn the latest promotion tools and skills,and use public relations,marketing promotion,personnel promotion and other modes to strengthen promotion,so as to attract high-quality customers to consult and buy.With regard to the improvement of marketing personnel strategy,adhere to full staff marketing and precision marketing,rely on team strength to promote marketing,strengthen personnel motivation,and improve the financial manager training system.With regard to the improvement of tangible display strategy,combined with the brand culture of CY rural commercial bank,create an intelligent and modern financial service environment,display the overall image,introduce information-based modern financial service equipment,provide convenient personal financial services to customers,and display the advantages and characteristics of CY rural commercial bank.With regard to the improvement of process management strategy,it is necessary to diagnose problems in the places where customer complaints frequently occur,optimize business processes and service mechanisms,facilitate customers’ investment and wealth management,provide customers with all-round services,and build a service platform to improve the service efficiency of personal wealth management business.By studying the marketing strategy of CY rural commercial bank’s personal financial business and discussing the marketing transformation road of personal financial business,it is of positive significance to improve the marketing level of CY rural commercial bank’s personal financial business and promote the prosperity and development of financial market.