The Research Of The Marketing Strategies Of Bank Of China-Shenyang Branch's Personal Financial Products

Bank of China-Shenyang branch is famous by its exquisite specialty of foreign exchange business since its establishment in 1981. Shenyang branch is deemed by the local civilians of Shenyang city as the primarily chosen bank for foreign exchange business after the achievement of A and H stock Listing in year 2006. While during the period that central Bank of China zealously put the action on developing personal financial products and corporate banking products in 2006, the personal financial products'development in BOC-Shenyang branch was not satisfied which could be seen from the scale ranking of the personal saving products in Shenyang City. Refer to the personal saving products'scale ranking, BOC-Shenyang branch is only ranked No. 5 which lagged behind the other three big states-owned banks that are the Shenyang branch of Industrial and Commercial Bank of China, Agricultural Bank of China and China Construction Bank and even lagged behind the joint-stock bank of China Merchants Bank-Shenyang branch. The sales of BOC-Shenyang branch's personal bank card products was also ranked no.5 in the city but the average card balance was only ranked no.12 which means it was ranked at the bottom of the list in Shenyang area. Although the personal loan products ranked no.3 in the city based on the loan balance, the badness loans were accounted a high percentage, which would be a historic burden to the bank that mainly due to the poor management after the provision of the loan. The development of personal intermediate business products except the foreign currency settlement products in BOC-Shenyang branch were also not as good as other banks.Under these circumstances, it is necessary to study and analysis BOC-Shenyang branch's personal financial products accurately and brings forward the feasible marketing strategies to preserve its market share in Shenyang area.This research studies the Strength, Weakness, Opportunity and Threats of BOC-Shenyang branch's personal financial products by the adoption of SWOT analysis. Based on this analysis, the root cause of the poor development of BOC-Shenyang branch's personal financial products is investigated and the feasibility of using those marketing strategies to BOC-Shenyang branch's personal financial products is discussed. Finally, the author puts forward that BOC-Shenyang branch should adopt the product portfolio strategy by product extension, the product life cycle strategy by product reformation and market excavation, the product development strategy by product follower and the product marketing management measurement by the use of all staffs promotion channel to improve the poor performance of BOC-Shenyang branch's personal financial products which would ensure the realization of the healthy development of each type of its personal financial products.