Research On The Development Of Mobile Phone Installment Consumption Loan

Mobile phone installment consumer loan is a new area and market segment of consumer loan extension.It increasingly favored by youth groups,and has formed a new market of mobile phone installment consumer loans with an annual scale of hundreds of billion yuan in China.Entering the 21 st century,with the deep evolution of human society to the era of electronic,information and intelligent,the function of mobile phone has been strengthened continuously,and it has become an important carrier that people’s life,work and learning can’t replace and depend on in depth.At the same time,the price of single mobile phone of famous brands is on the rise.Huawei mate20rs-Porsche mobile phone(which is a high-end-model launched in October 2018)sales price at 12999 yuan,Apple’s new i Phone11 pro with 512 g memory(launched in September 2019)has a retail price of 12599 yuan.Thus,young people’s strong desire and demand for mobile phone purchase by installment consumption loans have been generated.There is no doubt that mobile installment consumer loans will become a new growth point in the field of consumer loans.It is of great theoretical and practical significance to pay attention to,research and promote the development of mobile phone installment consumer loans for expanding the scale of consumer finance,stimulating consumer demand and stimulating domestic economic growth.Based on the perspective of financial institutions,this paper closely follows the main line of “Theoretical Research-Practical Investigation-Empirical Analysis-Policy Recommendations”.It makes a systematic analysis and in-depth study on the development of mobile phone installment consumer loan.From the theoretical level to explore the basic economic theory of the development of mobile phone installment consumer loans.Based on the special questionnaire survey of consumers’ installment consumption,this paper makes an in-depth investigation and objective analysis of consumers’ willingness and demand for installment consumption loans of mobile phones.Taking the development of mobile phone installment loan business of financial institutions as the target,this paper makes an empirical study on the development and innovation of mobile phone installment loan from three dimensions of operation mode construction and product design,market expansion and customer mining,credit risk analysis and prevention and control,which form the key content of this paper.On this basis,based on the results of theoretical and empirical analysis,and based on the actual situation of China’s current mobile phone installment consumer loan market operation,this paper puts forward some forward-looking policy suggestions for the future development of mobile phone installment consumer loan.The research on the development of mobile phone installment consumer loan needs to be based on certain consumer finance theory.Through the systematic interpretation of the theory of consumption function,this paper finds the theoretical basis of the cross-period consumption of mobile phone installment consumption loan.Combined with the study of consumer psychology theories such as consumer rational decision-making,limited rationality,prospect theory and dual system theory,this paper straightens out the correlation mechanism between consumer psychology and consumer decision-making,and provides theoretical support for subsequent product design and customer mining.Based on the theory of information asymmetry,game theory and the theory of comprehensive risk management,this paper lays the foundation for exploring the effective way of risk management and control of mobile installment consumer loan.The research on the development of mobile consumption loan by stages needs to have insight into customers’ consumption intention and psychological needs.The first-hand information was collected by questionnaire,and the consumers’ willingness to consume by stages was deeply investigated and analyzed.This paper uses statistical analysis method to sort out the key consumption demands and expectations of consumers who buy mobile phones by stages,and further uses "K-means++" cluster analysis method to analyze the relationship between customers’ consumption wishes and demands,which draw conclusions such as customer portraits and consumer demand conditions based on the research of consumption wishes.Through the study of consumers’ willingness,it can provide the basis for the operation mode of consumer loans,product marketing,customer mining,risk prevention and control and other follow-up studies.The research on the development of mobile installment consumer loan needs to break through the key nodes of product design,customer mining and risk control.On the one hand,based on the questionnaire analysis of consumers’ wishes,this paper studies the business mode and profit mode of mobile phone installment consumer loan based on the theory of value chain,and puts forward several ways to reconstruct the business mode.Based on the innovation of operation mode,the design innovation is carried out around the convenience of product service,product pricing and product promotion scheme concerned by customers,and the pricing method of "value chain comprehensive profit" is innovatively proposed in the aspect of loan product pricing.On the other hand,through the business data of a province,this paper makes a statistical analysis of the actual customers of mobile phone installment consumer loans,and further uses the linear SVM algorithm to build a customer identification system based on the communication characteristic data.Through the comparison of various algorithms,the effectiveness of potential customer mining method is verified,which provides a new tool for mobile phone installment consumer loan customer expansion,and also provides an effective method choice for financial institutions to carry out potential customer data mining.On the other hand,by drawing on the experience and shortcomings of traditional prevention and control methods in the credit risk control of mobile phone installment consumer loans,an effective risk assessment system is proposed with the help of data mining model.The second-order model of RF logistics Stochastic Forest logistic regression is constructed,and the effectiveness of the algorithm model is tested by empirical data,which provides an empirical research method for financial institutions to use cross industry data to achieve the credit risk prevention and control of mobile installment consumer loans.It is necessary to put forward practical policy suggestions for the research on the development of mobile consumption loans by stages.First,from the macro level,we will effectively improve the laws and regulations system of mobile phone installment consumer loans,strengthen the market supervision mechanism,and improve the social credit system.Second,efforts should be made to strengthen internal management from the perspective of financial institutions,focus on product and marketing model innovation,and improve the ability of big data analysis.Third,from the operation level of mobile phone and communication industry,we should focus on improving product R & D capabilities and promoting the integration of mobile phone industry chain and financial industry.Fourth,from the perspective of consumer training,we should continue to popularize the knowledge of mobile phone installment consumption loans,and form a harmonious consumption view and values.The development of mobile phone installment consumption needs practical policies and measures.First,in terms of optimizing the internal operation and management of financial institutions,financial institutions should promote the optimization of organizational structure,enhance the innovation ability of consumer loan products,strengthen the capacity building of big data,improve internal management,and comprehensively improve the comprehensive management and prevention and control ability of operational risk.Second,in terms of consumer loan policy protection,financial institutions should actively promote the government to improve the laws and regulations of consumer loans,and help improve the regulatory mechanism of consumer finance.Third,to create a harmonious and healthy financial environment,financial institutions should strengthen the popularization and publicity of financial knowledge,create a social atmosphere of honesty,cultivate consumers to form a harmonious consumption view and values,build a good consumption environment to meet people’s yearning for a better life and the harmonious development of social economy,and assume the social responsibility and obligation of financial enterprises.