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China's Securities Brokerage Business Services Marketing Research

Posted on:2012-06-15Degree:MasterType:Thesis
Country:ChinaCandidate:L YiFull Text:PDF
GTID:2219330368978035Subject:Finance
Abstract/Summary:PDF Full Text Request
With the rapid development of capital markets mature, Chinese economy developed by leaps and bounds, the impact on the economy gradually deepened. The increasing in national income, investment demand on the capital market is gradually increasing. The securities as securities services companies face the growing demand for capital market investment services, at this stage simply by increasing the sales department only the extensive operation to meet the needs of investors. With the massive increasing in the number of sales department, the Securities and Exchange Commission's open, the appearance of approval system of listed companies, securities companies are from the monopoly of the "seller's market" gradually moving towards free competition "buyer's market," the industry from monopoly to open violence competitive profit sectors. Adverse market environment the traditional brokerage business income subject to severe challenges, securities companies on how to improve their core competitiveness, how to retain old customers while developing new customers, how to increase market share and increase profits, how competitive market in terms of survival and development problems is China's securities industry is facing a major problem, which is the purpose of this article.In this paper, the current domestic brokerages in the course of business problems for analysis and conclusion that the most important securities firm marketing and service aspects of the problem is out of line, most securities companies are pure insurance model established marketing team for marketing the securities, with the price, rebate and other means of low-level marketing customer marketing, resulting in continued poor market conditions, income levels. And few companies can truly high quality service to support and develop the marketing and forget the services of securities companies is fundamental. This innovative use of services marketing theory put forward to build the company's securities business department, with "all customer-centric" philosophy for customer service, by improving service levels to attract customers, increase customer loyalty, and that this is the future path of development brokerage.This paper analyzes the development of China's capital market and the current state of capital markets. China's capital market after 20 years of development, with the rapid development of the economy grew, stocks, funds, bonds and other market becomes more mature, but mature and developed the international market from there is still a small gap. Then analyzes the current development of China's securities companies during the current situation and major issues, the status of securities companies in China Stock Company is the number of very fast growth to March 2011 a total of 4510 so far; securities company's market share is relatively concentrated;income securities companies are still "dependent on the weather," the large proportion of brokerage business; brokerage commission rates decline, the market average commission levels to nine ten thousandths; securities companies because of the homogeneity of the serious business of competitive convergence result serious.Some securities companies in order to cope with intense competition, hold high the banner of the full marketing, open for business before the department to change the old practice of waiting for customers to begin implementing the "going out" strategy, from the "shopkeeper" to "salesmen" gradually change. In this process, each letter of the securities brokerage in the country, China Merchants Securities, Ping An Securities, led by companies such as giving full play to their strengths, and gradually build their own marketing team, expand its marketing.Securities companies in the marketing process, there have been the following questions:1, The majority of the brokers to insurance companies, "pyramid" model, in the absence of sufficient training capacity, that the overall quality is not high, liquidity, the team's foundation is not solid;2, Chinese securities companies use promotions still in the lower commissions, sending small gifts, free low-level marketing account fees;3, Part of the securities company's brand image building backward;4, The professional securities market securities lack of basic knowledge and practical ability;5, The increase in the number of account managers increase the risk of leading brokerage business; 6, The low level of brokerage services, can not support the development of marketing.Gold companies in both securities firms, led by its outstanding level of research and good "in the money" effect, by increasing the level of customer value-added services to attract small and medium customers to join, rather than falling stock market commission, send gifts and other conventional means to market customers. CICC to provide value-added services to customers is to learn from successful overseas brokers sales model-research, sales and execution. That is starting from the study, the use of excellent research capability for customers to produce high-quality service, then use the best on display to the customer account manager, sales to customers, the last coming in on marketing to provide quality customer service. Customers to enjoy high quality service long after the formation of the trust securities firm, strengthen customer loyalty, while the formation of word of mouth, for securities companies to bring customers long-term stability.Securities during the company's services, there have been many problems, mainly:the depth of services is not enough, for individual customers or limited stocks, funds, and other products recommended, leading to increased risk, and not in full accordance with the characteristics of each for in-depth customer mining; service area restrictions have severely, as the only gold company's sales department in Shanghai, Beijing, Shenzhen and other developed areas, radiation, small size, led to other provinces since customers can not enjoy the good service; on customer requirements too high, resulting in a small number of customers. In Shanghai, China International Capital Corporation is a boutique strategy adopted, for 200 million only to provide services to customers, and for small farmers do not give quality service, so that the gold company's services result in a small number of customers; marketing team building backward, CICC for its good services in the market established a good brand, but the lack of delivery services, and expand the marketing team, brand influence, resulting in a smaller range of customers situation.Second, the analysis of the reasons for the above problems, proposed to replace the current low-end marketing services to the low end of the extensive marketing. The introduction of marketing theory, service theory, theory of traditional 4Ps marketing services, extended 7Ps service marketing theory, and that the securities company as a service industry, should proceed from the service by improving their service levels, to increase the number of customers and loyalty. Details 7Ps service marketing theory, that as a service organization, should be through the construction of the following seven aspects of the marketing mix elements, to improve their marketing skills and service levels:service products (Product), service prices (Price), service channels (Place), service promotion (Promotion), the service people (People), in physical display (Physical evidence) and the service process (Process).7 should be combined and co-ordination to achieve the desired effect. Then the definition of securities and the characteristics of service marketing, service marketing using the extended theory 7Ps Securities Services Marketing SWOT analysis to identify securities services marketing strengths, weaknesses, opportunities and threats.The use of extended 7Ps services to build security services marketing theory marketing system, respectively, one by one from the seven aspects of the analysis, using the experience of their own security situation in the present marketing system for service under way.Service products-should increase transaction services, information consulting services, asset management, fund products, futures and margin trading business IB the quality of products, one of the most central and most crucial aspect is a high level of investment through the creation of advisory team to improve the information consulting services. Price of services-in the brokerage business should focus on different market environment, different levels of customers, clients enjoy the different services, customer assets and trading volume for differential pricing. Service channels-Securities companies should improve transaction services, increase SMS, QQ group, telephone visit services, forums, services, high value-added services.Service Promotion-Securities companies should increase the intensity of promotional services, such as free services, low-cost services, account opening gifts, etc. to improve the company's reputation, which to market new products, new services, new services.Service people-respectively from the front, middle and back office staff team building, gives detailed, specific programs and operating methods. Focused and detailed marketing team and the importance of investment advisors, respectively, the goal of building from the marketing team, the team's organizational structure, team member recruitment strategies, team training strategies, team management strategy introduces the construction method of marketing team. Investment Advisory team building and then introduced the recruitment, assessment, training, with emphasis on the importance of quantitative assessment.In physical display-Securities companies should strengthen the construction of the environment and the business department of the construction quality of the staff, with the visible display to the customer a good experience, so as to enhance customer recognition of intangible services. Service Process-Securities companies must establish a "customer-centric" service concept, the pursuit of long-term development of the company and customers, through customer relationship management system (CRM) customer implementation of "one on one" personalized services.Therefore, the securities as a financial services company providing services to the functions of a securities company, to really good service, customer marketing at the same time, it should do well in front of the seven marketing mix elements, in particular the progressive realization of a time when mature domestic market-oriented period, the securities company only constantly change their shortcomings, play to their strengths, in the fierce market in order to win more customers.7PS service marketing theory, the seven marketing mix elements are mutually reinforcing, for marketing and services is indispensable, part of which is to improve service quality and level, and some is to improve the marketing level, which must be combined up. Improve service levels is to increase the loyalty of existing customers, as a foundation for the marketing and service is the eternal; the same time, marketing, publicity for the company's services, and expand the influence of corporate services, development of more customers for the company, services, and marketing are complementary.Finally, the services of Orient Securities empirical analysis of marketing effectiveness, Orient Securities through the construction of the marketing team for marketing to achieve good results, but there is no increase service levels, service marketing, both out of line, the level of its services and marketing teams need to further improved. And Orient Securities in the service for the construction aspects of the marketing system put forward their own suggestions:Recommendations on the marketing team building Orient Securities:changes in the leadership of the marketing concept of decentralization of headquarters to the business department, sales department to have more autonomy, according to local market conditions to determine the appropriate plan to recruit people and team size; establishment of a complete internal management system; flexible use of the recruitment system; establish a complete marketing team training system. In the investment advisory team building, now the Ministry of Orient Securities business only two investment advisers, but the monthly use of the headquarters and headquarters for all SMS services to business customers service department, and telephone answering customer inquiries, customer service too different and the needs of investors and service far behind the needs of customers. Building on the investment advisory team recommended Orient Securities, the concept of change to the existing headquarters level and strengthen company-wide "all customer-centric" service concept; each business department at least 5 or more with an investment adviser; further strengthen the research The results of the research department of business and research information support; Sales Investment Advisory team to enhance the assessment; strengthen the investment advisory business department of the team training.In the service process, the Orient Securities Investment Advisory Department is currently operating the service or the traditional way of SMS and periodicals services, answering customer inquiries passive phone, still in the "shopkeeper" state, the proposed Eastern securities:the establishment of high-quality, a high level of investment adviser team; add more customer service model, such as customer telephone return, the forum model, QQ group mode; use of CRM customer relationship management system, for different customers with different modes of service delivery, customer-centric; package customer service content, to establish their own brand of service.In this paper, the use of literature study, chart analysis, empirical analysis, comparative analysis, statistics and other research methods were studied and analyzed, and the Orient Securities brokerage business situation and the problems of the analysis, targeted to put forward the Orient Securities brokerage business marketing strategy in the proposal, while marketing system proposed by a securities company to establish the methods and suggestions to the traditional mode of operation of the securities company will help marketing efforts for China securities companies and securities development of the market make its own contribution to the further development of services marketing and securities firms marketing management theory.
Keywords/Search Tags:service marketing, brokerage business, customer relationship management system, services marketing theory
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