State-owned Commercial Banks Marketing Strategy Research

Along with the development of the market economy, Chinese state-owned specialized banks are now in the process of converting to commercial banks, which requires the latter to operate in accordance with the rules of marketing. Because of the acceleration of competition in the marketplace, it is the only way the Chinese commercial banks can take, i.e., to operate their business in accordance with the rules of marketing. In so doing, it can firstly accelerate the reform of the commercial banks. Secondly, it can deepen the reform of the money market. Thirdly, it will promote the intensification of the management of banks, and fourthly it will speed up the internationalization of the commercial banks. To develop the marketing of the commercial banks, the author suggests taking the following measures, i.e., to have a good understanding of marketing and its concept; to set up necessary institutions of marketing and to train professionals of marketing; to learn the experience from the overseas banks, and to explore market opportunities; to segment the target market, and to find focal market for service; to implement the 4P strategy, and to form the marketing mix; and to build up the image of the bank, and to develop marketing culture. On the other hand, the author thinks that the customer manager system can improve the competitiveness of banks, help to reduce financial risks, and develop individual financial operations. It can be an important aspect of marketing of the commercial banks. China Construction Bank has made great progress in marketing in the recent years, but to the author, the market positioning of CCB should concentrate on the following two aspects; i.e., the company customer market and the individual customer market. Besides, CCB should take some measures to improve its marketing policy. Another important problem of the national commercial banks is how to compete with foreign capital banks after China's entry into the WTO. Based on the disparity between the foreign capital banks and the national commercial banks, the author suggests that we should adopt the following strategies, such as maintenance strategy, counterplot strategy, and talented person strategy to compete with them.