On The Strategy Of STP Marketing Of Commercial Bank

The basic key elements of marketing strategy of target market are market segmentations, target choosing and market position, namely STP. After joining WTO, the commercial banks of China are facing the increasingly fierce market competition. So commercial bank should update marketing idea and marketing strategy, realize the transition from the marketing strategy of mass to the marketing strategy of target market as soon as possible. The first part is about commercial bank and marketing strategy of target market. Bank products are all the services in relation to money that can meet certain desire and need of people. The bank products can be divided into three levels in view of function and essence: core products, also called benefit products, refer to the basic service or interests that the customer purchases; Form products: also called characteristic products, refer to the particular kind of bank products which meet the customer's demand; extension products: also called additional products, refer to the extra service that the bank products can offer to the customer. Compared to other tangible products, the bank products have obvious features: (1) Invisibility, so an important task of marketing management of the bank is to convert the invisible service into a tangible quality assurance, to remove the uncertainty feeling of the buyer. (2) Relevancy, generally speaking, the marketing of bank products needs thorough participation of salesman and customer. (3) Changeability, it is relatively difficult to stabilize and control the quality of products. (4) Demand fluctuation, need the bank to use various kinds of marketing tools to lead and balance. The American authority in marketing study: Philip Kotler defines marketing as," society process and management process of how individual and group satisfy their social needs and desires via creating and exchanging the value of products ". In a word, marketing is that enterprises meet customer's demand and realize the profit. Kotler think that bank has experienced five development stages: Germination stage; " Friendly service " stage; " Financial innovation "stage; " Position of financial service "stage; Financial marketing management stage. Owing to the highly liberalization of economy environment and particularity of bank products, the marketing of the bank have characteristics different from tangible products marketing too, which are mainly embodied in the following aspects: Importance of the marketing environment; Necessity of differential tactics and convenience principle; Strict choosing of marketing target; Lagging of marketing profit. The importance that the commercial bank implements the target marketing mainly lies in: Helping the bank to find the new market chance; Helping the bank to establish one's own unique competition advantage ; Helping the bank to make scientific marketing strategy; Helping the bank to promote the inside reform.. The second part is about market segmentations of the Chinese commercial bank. Market segmentations are the foundation and the first step of the target marketing of commercial bank. Market segmentations means the bank divides the whole market into the sub market or smaller customer group according to customer's different demands. The market segmentations method adopted in the marketing of bank has obvious features. The customer of the commercial bank can be divided into two big groups including personal customer and enterprise customer. And their market segmentations method is obviously different too. The core of personal customer's market segmentations is the demand analysis. The bank can analyze customer's demand in two respects: customer'scharacteristic and customer's feedback, and subdivide the market at the same time. Customer characteristic segmentations method use personal income level variable to divide personal market into common market, middle level personage market and rich stratum's market; Use age variable to divide personal market into youth market, middle age market and old age market; Use psychological variable and geographical variable to divide the personal market into all kinds of characteristic market. Customer feedback is namely customer profitability segmentation method which utilize loyalty segmentations variable to divide the customer into types of single loyalty, centralized loyalty and loyalty-shifting market; Use customer profitability variable to distinguish deposit market of accumulated future consumption, deposit market of life cycle consume balance and deposit market of assets accumulating etc; Utilize frequency of use to distinguish frequent user, medium frequency user, accidental user and none user market, bank need to understand the behavior, identity, state, demand, management style of user characteristic, in order to attract them to become loyal customers of long period of time. In addition, the foreign commercial bank often adopts CAP model to segment the personal market. Enterprise customer is the main wholesale financial products and service target of financial enterprises, the market segmentations of enterprise's customer, mainly use the following methods: segmentation according to the customer industry, need to study the developing state of different industry of different periods, in order to work out bank supporting and market limiting tactics, the main concern of our country banking include post, telecommunications, energy, securities etc; Segmentation according to the business scope need to study the different need of local enterprise client and foreign trade enterprise customer; Segmentation according to the institution character need to research the different service need of the group of privateenterprise client and group of government enterprise client; Segmentation according to the scale of the enterprise , the need for financial product and service of large, small and medium enterprise of our country is obviously different too. The third part is about the choosing and position of commercial bank target market. The commercial bank need to consider the management capability and characteristic of his bank to determine one's own target market choosing and tactics of covering on the basis of assessing the segmentation market, Which customers group is the target market in which bank promotes the financial goods and service, and then form the corresponding market-covering tactics, and launch the business at the same time on all markets; The difference market covers the tactics, namely according to the demand characteristics of different kinds of consumers , different levels, divide the whole financial market into several subdivide market , choose two or more segmentation market from it as target market, make and implement different marketing combination tactics according to different target market; Centralized market-covering tactics , take one or a few segmentation market as target market, concentrate marketing strength to implement specialization managing and service., according to the demand of specific target consumer . After selecting the target market on the basis of segmentation market, the commercial bank needs to establish clear market position. The meaning of market position is that the commercial bank establishes a specific brand image and corporate image in target consumer's mind . Make a kind of "formulary"to capture public psychological space, establish unique competition advantage among the target market. The work of position including three steps: discern a series of competition advantage which the position may depend on , confirm proper competition advantage, choose the overall tactics of position and transition of position.