Research On Marketing Strategy Of Personal Finance Business Of A Branch Of China Merchants Bank

China Merchants Bank is the first joint-stock commercial and financial institution in China that is fully owned by a corporate entity.Its development momentum has always been leading in Jilin Province,and it is favored by a large number of investors.As a subsidiary branch of China Merchants Bank in Jilin Province,A Sub-branch also carries out personal financial services with the head office.China Merchants Bank has been developing well and ranks among the best in China in terms of financial management capabilities.Since being first listed in the Fortune Global 500 in 2012,China Merchants Bank has been listed for 10 consecutive years.Personal financial services occupy an important position in the development of banking business.However,with the rapid development of the Internet,the traditional banking development theory has lagged slightly,and the personal financial services of commercial banks have also been greatly impacted by the Internet.The promulgation of the new asset management regulations in 2018 has caused a significant impact on the investment banking industry’s wealth management product services,especially for banks,whose development is facing unprecedented challenges.This article aims to explore the marketing of personal wealth management products of China Merchants Bank’s A branch,and conduct an in-depth analysis of its historical background,purpose,connotation,and methods.Then summarize the relevant theories of marketing,including STP marketing theory,7Ps marketing strategy,and collate the relevant literature of China’s commercial banks’ personal finance business to provide a theoretical basis and research ideas for this article.Next,a brief introduction is given to China Merchants Bank’s A branch,and an analysis is made of the current marketing situation of China Merchants Bank’s A branch’s personal wealth management business.It is found that there are currently problems in China Merchants Bank’s A branch’s personal wealth management business marketing,such as insufficient product differentiation,inadequate prices,narrow customer channels,outdated promotion methods,insufficient personnel literacy,lack of service management,and difficulty in tangible display of wealth management products.In order to better understand the current situation of the personal finance market of commercial banks,this article makes an in-depth analysis of the macro environment,competition,and internal market environment of the personal finance business of China Merchants Bank’s A branch,with a view to providing customers with more targeted marketing strategies.To this end,we will refine the market,define target customer groups for business travel differentiation,implement hierarchical customer management,and customize differentiated products based on customer needs.According to marketing theory,we should formulate targeted marketing strategies from seven aspects: product,pricing,sales channels,promotion,talent,process,and tangible display,in order to achieve the best marketing effect;At the same time,we should also strengthen product research and development and technology investment,strengthen risk control,and enhance the professional degree of marketing personnel to ensure the effective implementation of marketing.Through this study,I hope to provide countermeasures and suggestions for the marketing of personal financial services of China Merchants Bank’s A branch,and help it achieve better and faster development.