Tudy Of Competition Strategy In New Area Branch Of ZD Bank

Finance is the core of a country’s economy,and banks,as an important part of financial institutions,play an important role.At present,there are nearly 4000 banking institutions in China,which are divided into state-owned large commercial banks,joint-stock banks,urban commercial banks,rural commercial banks,rural banks,private banks,foreign banks,etc.according to different controlling shareholders and business areas.In order to boost the domestic economy,the country has issued a series of financial policies to stabilize the economy,and the credit interest of banks is also in the downward trend.The support for inclusive finance and the real economy is stronger than ever before.As a state-level new area,the total economic volume of Qingdao West Coast New Area has exceeded 430 billion yuan in the whole year,which is higher than the median number of prefecture-level cities in Shandong province,it plays a leading role in the economy.The economic development of Qingdao West Coast New Area is advantaged by nature,it has a free trade zone and is close to two major ports(Qianwan Port and Dongjiakou Port).The good economic situation has attracted many financial institutions to set up branches.At present,there are 31 banks with different legal entities in this new area,and the competition among banks is fierce.ZD Bank,as a member of the agricultural and commercial banking system in Shandong Province,has set up sub-branches in the new area.The New Area Sub-branch has its inherent disadvantages,such as single network operation,low technology empowerment,few products,and imperfect systems,in the meantime,it also has natural advantages such as short approval radius,few indicators,and flexible credit business policies.Faced with the reality that the product homogeneity is becoming more and more serious,the competition is becoming more and more fierce,and the interest difference between deposit and loan is becoming much smaller,the New Area Sub-branch wants to survive and establish a foothold in the local area in the subsequent development,it has become a research topic that the New Area Sub-branch must face.Tools are used such as PEST model and Porter’s five forces model to comprehensively introduce and analyze the external environment of ZD Bank’s New Area Sub-branch,and believes that the New Area Sub-branch is facing a severe macro environmnent,the foreign situation is unstable,the domestic economic growth is weak.and in the fierce competition with several different types of local banks,the start is late and the foundation is weak.ZD Bank’s New Area Sub-branch has always been unsatisfactory in terms of enterprise resources and enterprise capabilities.In the process of development and competition,the New Area Sub-branch has its own unique opportunities and threats,advantages and disadvantages.EFE matrix is used to analyze external factors,quantifies external opportunities and threats,and the weighted score reaches 2.62,which indicates that opportunities are greater than threats;The IFE matrix is used to comprehensively analyze the internal causes,and the weighted score is 2.7,which shows that the advantages outweigh the disadvantages.Finally,the SWOT matrix is used to comprehensively analyze the opportunities,threats,strengths and weaknesses,and formulate the strategies that can be adopted;I use QSPM to optimize and select the strategies adopted by customers,and finally determine the competitive strategy of ZD Bank New Area Branch as differentiated competitive strategy.In order to ensure the implementation of the differentiated competition strategy of ZD Bank New Area Sub-branch,four measures are proposed,including differentiated marketing subject and positioning,differentiated products,differentiated service concept,and differentiated marketing channels;Meanwhile,four implementation guarantee measures are proposed,which are establishing efficient corporate governance mechanism,establishing effective product innovation mechanism,implementing scientific human resource management,and establishing scientific internal performance evaluation system;The implementation and guarantee of the above measures will help ZD Bank New Area Sub-branch to establish itself locally and make greater contributions to the local economic development.