Research On Service Marking Strategy Of Personal Finance Products Of K Branch Of HX Bank

In recent years,with the continuous growth of the national economy,the disposable income of urban residents continues to increase,people’s investment ability is also increasing,and the demand for wealth and asset management talents is more vigorous.In order to cater to the changing international financial market situation and the fierce competition in the same industry,the major commercial banks are also actively looking for new profit growth points.They are no longer completely restricted to the basic assets business such as bank deposits,and actively promote the development of personal finance sales business.At the present stage,personal financial products are diversified in the market,complicated in forms and diverse in customer groups.Therefore,one of the key points of service optimization is to help customers find their favorite financial products.In addition,the problem of "free riding" of personal financial products of commercial banks is quite prominent.After one commercial bank explores and develops new financial products,if the market response is good,another commercial bank can quickly catch up with the market and can develop similar financial products without early research and development investment.Therefore,if commercial banks want to be competitive in the market,they need to adjust their development strategy of personal finance business,constantly innovate the market,develop differentiated new products in time,establish brand influence,and seize the dominant power of competition.This paper takes K Branch of HX Bank as a case study and personal finance products as the research object to introduce the development and business operation of K Branch of HX Bank.First of all,the macro and micro environment of K Branch of HX Bank is analyzed in detail from the aspects of policy and legal environment,economic environment,social environment and technical environment by using PEST analysis method.Porter’s five Forces model is used to analyze the industry competition environment of personal finance products in K Branch of HX Bank from five aspects,including the power of wealth management suppliers,the bargaining power of consumers,the threat of existing competitors in the industry,the threat of Internet finance,and the threat of peer competitors.The SWOT matrix is used to analyze the advantages,disadvantages,threats and opportunities of K branch of HX Bank,and the SWOT strategic matrix is listed.At the same time,the matrix analysis results are summarized and analyzed,and it is concluded that HX Bank is the most suitable SO strategy(pioneering strategy),giving full play to its own strength,seizing opportunities,actively developing,and accurately grasping the marketing target.Use the Internet to improve the brand awareness of enterprises,expand business coverage,improve financial performance,and enrich the variety of goods.It provides some reference basis for the formulation of service marketing strategy.Based on the above analysis results,The investors in the personal finance product business of HX Bank K Branch are investigated from the aspects of the personal finance product,the price of the personal finance product,the purchase channel of the personal finance product,the promotion of the personal finance product,the specialization of the financial manager of the personal finance business,the tangible display of the personal finance business,and the related problems of the service process of the personal finance business.At the same time,the survey samples from gender,age,occupation,personal income,education,etc.,were analyzed.Secondly,7Ps theory is used to point out the problems existing in the personal finance business of HX Bank K Branch in the current service marketing model,such as insufficient product innovation,lack of differentiation in pricing,slow channel development,single promotion means,low degree of financial manager specialization,lack of tangible display,non-standard service process and so on.Finally,with the assistance of 7Ps theory,the marketing strategy of personal finance service of K Branch of HX Bank is put forward,which mainly includes the development of financial products.Guided by customer needs,innovative suggestions on financial products are proposed to the head office,and investment portfolios are matched for customers according to their differentiated needs.Differentiated pricing strategy;Improve the channel construction: improve the construction of urban network,vigorously develop electronic banking business;Rich promotion means:activity promotion,advertising promotion,event promotion;Improve the professional degree of financial managers: increase the training of financial managers,establish a scientific and reasonable incentive mechanism;Optimize tangible display: design attractive,optimize the network service environment;Standardize the network service process.At the same time,the guarantee measures for the personal finance business marketing strategy of HX Bank K Branch are proposed,including strengthening wealth brand building,building professional wealth team,perfecting performance appraisal mechanism,strengthening risk control guarantee,etc.The marketing of personal financial services needs a high degree of convergence from customers to products,from channels to financial specialist services.Therefore,the author of this paper has carefully considered the challenges and opportunities brought by China’s current macroeconomic and political environment and the development of online finance,and has made several discussions from the aspects of improving the marketing skills of enterprises,closely combining with the work practice of commercial banks,A marketing strategy with strong applicability and enforce ability is given to improve the company’s marketing ability,which is not only conducive to further strengthening the core competitiveness of HX Bank K Branch,but also plays a certain reference role for the development of other commercial banks in the industry.