Study On Marketing Strategy For International Settlement Service Of ICBC Linyi Branch

With the further deregulation of domestic financial market and the all-around advancement in reformation of financial system, the marketing environment for commercial banks in our country are undergoing profound changes, during such a process, the commercial banks would be confronting with a financial environment of increasingly severe competitions and facing with the demand for increasingly diversified and individualized financial services. It has come to a consensus to say that the banking sector falls into service industry and the marketing of banking business falls into the area of service marketing.International settlement refers to the discharge action taken internationally for the currency-denoted credits and debts occurred due to economic activities, namely, the receipt and payment of currency between two countries as a result of commodity transaction, service trade, fund allocation, international borrowing or investment that needs to be handled via the banks by two parties from different countries, no matter they are natural persons, legal persons or governments. As an important sector for the intermediary businesses of commercial banks, the international settlement has the following features such as low risk, high profitability, fine scalability as well as the ability to effectively drive the marketing and development of other businesses as a whole, and therefore becomes the competitive focus of various commercial banks. With the opening of China's financial industry in all aspects in recent years, international banking giants have come to China in succession to occupy favorable locations, set up offices and exploit markets. By virtue of a sharp sense of market, foreign banks similarly put their top priority on international settlement and trade financing in order to win out in China, making the competition in this field even hotter. The business of international settlement requires specialized expertise, must strictly follow policies and involves a smaller number of professionals; besides, innovation is difficult but imitation is easy in terms of services in this division. As a matter of fact, traditional marketing has been ill-adapted to the need to develop international settlement, and the study on services marketing strategy becomes imperative. Unfortunately, there are few theoretical studies in this field at present. Given the background as mentioned above, by applying the methods of theoretical derivation, case analysis, literature review, combining theory with practice and comparison, and based on the theories of services marketing and finance, this paper considers the fact that the ICBC Linyi Branch is in absence of theoretical direction in terms of its international settlement marketing, analyzes the existing problems and causes, and seeks to develop a marketing strategy appropriate for its international settlement business with a view to promoting its international settlement marketing management, enhancing its core competitiveness for international settlement and contributing to the long-term, steady and healthy development of its international settlement business.