Study On Relationship Marketing Strategies Based On Customer Value Of Commercial Banks In China

With the ultimate openness of the finance market, the marketing environment of Chinese commercial banks is undergoing great changes: the state-owned commercial banks have to confront tougher competitions, diversification and personalization of financial services. Compared with foreign banks, the operating ideology of Chinese commercial banks is left behind and they have obvious misunderstanding and shortcomings in their practical application. Fierce competition makes it necessary for our commercial banks to change their marketing theory and models to increase their competitiveness. Based in the overall background of the increasingly open financial market in China, this thesis makes in-depth analyses of the essence and characteristics of relationship marketing in commercial banks and put forward some practical relationship marketing strategies for our commercial banks to increase their competitiveness.The paper gives a literature review of the history of relationship marketing and makes a thorough analysis of the current situation to point out the necessity of applying relationship marketing strategy to the Chinese market. In addition, by studying the case of City Bank, the paper also analyzes the experiences of relationship marketing in foreign commercial banks. Lastly, the paper provides suggestions to improve the relationship marketing in Chinese commercial banks.Relationship marketing is an inevitable trend in Chinese commercial banking in that the Chinese banks face serious competition and the changes in customer needs and services. The connection between commercial banks and their related markets also calls for relationship marketing. Relationship marketing, which is based on the client value, applies to every relevant market related to the commercial banks and increases effectively the competitiveness of commercial banks.