| It is well known that the economic construction of new socialist countryside aims to establish a long-term mechanism for the income of farmers.The government has done everything possible to increase farmers’income to realize their well-off dreams,which is inevitable on the way of advancing and constructing the socialist harmonious society.Provision of suitable and favorable credit service for the clients from rural area is also a key factor to improve farmers’ living standard and promote the economic development in rural area. With the interest rate market-oriented reform, flourish of commercial bank outlets all over the rural area and the invasion of Internet banking, the competition in rural credit market has becoming increasingly fierce. In order to remain in an invincible position in the fierce competition, commercial banks have to re-examine their target customer groups and develop appropriate marketing strategies in line with their development. This paper takes the rural microcredit business of Baoshang Bank Limited as an example, analyzes the macro and micro marketing environment of the rural microcredit business in Baoshang Bank Limited through adopting "4P", "SOWT analysis", Michael Porter’s Five Forces Model and other marketing theory and conducting market research based on the actual situation of the bank and proposes a marketing model suitable for rural microfinance business development.The conclusion of the paper:In that rural microcredit marketing involves a systematic design, commercial banks should secure clear positioning of the target market and business development plans, as well as having an objective, accurate understanding of their internal and external environments, advantages and disadvantages, together with the opportunities and challenges facing them. With regard to Baoshang Bank, a judgment of feasibility should be formulated for rural microcredit products in terms of product positioning and design, market research, risk control, and brand building, etc. Proper product pricing that fits the profits, costs and risks is the core element for the sustainability of commercial business development, while multichannel distribution and flexible promotion strategies are a powerful guarantee to business developments. Meanwhile, a clear understanding of the flaws is needed—in the case of Baoshang Bank, solutions to the flaws in rural microcredit business include establishing a center of expertise in the headquarter, promoting product innovation capacities, strengthening the sense of compliance, enhancing team building, widening marketing channels, and improving the ability to earn comprehensive income, etc., so as to ensure business stability and sustainable development. |
