Marketing Strategies Of Foreign Banks In The Context Of The Wto Inquiry

With the China's entry of WTO, Chinese government keep his promise strictly removing thelimitation to foreign financial institutions step by 'step. Foreign banks have been given muchdevelopment space which have never enjoyed before.During the past 3 years, the competition between the local and foreign banks spread in many field,and become more and more . The focus of this competition mainly falls on the "good customer", theone who has owned the "good customer" will win the smokeless war. The foreign banks havehungered the "big cake" for a long time. Although they have advanced management experience andhave created splendid history in abroad, the most important problem for them is whether they canenter China smoothly and be welcomed by the Chinese customer. After the China's entry of WTO,the local banks tried all means to make their marketing attractive. So the urgent mission for theforeign banks is to utilize effective marketing and build up their brand.Looking back on the development of bank marketing, it has experienced long exploration. Now thewestern banks have stepped in the time of integrated marketing. The foreign bank should extract thesuccessful experience of their abroad marketing, rather than copy, adapt to the consumption practiceof Chinese customer , choose the native marketing policy, create brand-new image , and bring theirmarketing to the heart of Chinese customers.The author made brief introduction of bank marketing in the opening of this article.After the detailed demonstration of the process of China's entry of WTO, the chance and challengefor foreign banks, the author put forward that the key point of foreign bank is to make successfulmarketing strategy based on the focus of the competition between the local and foreign banks. First ofall, to change the marketing idea, the "product centered" marketing theory will be replaced by"customer centered" theory. Utilize the Customer Relationship Management to keep loyalrelationship with customers. Taking advantage of modern tool-internet banking and data marketing,the bank can realize the "one-to-one" marking to customer. At last, brand marketing can make themarketing impressive.In the last part of this article the author make brief analysis of local bank's development status afterChina's entry of WTO, which has certain significance of their strategy transfer.