China Telecom Mobile Payment Marketing Strategy Research

Along with the rapid development of telecommunication technology, communications, financial and e-commerce industry widely integrated, the mobile payment industry is rising accordingly. Many payment companies launched mobile payment strategies and related products, China UnionPay and the three major telecom operators also entered mobile payment market one after another. In2011, the Central Bank issued101pieces of3rd party payment licenses, which escalated the competition in this field. Under the situation of full service competition, mobile payment becomes one of the most important means to grab customers. In this paper, the author analyzes China Telecom’s mobile payment marketing strategy based on the knowledge of marketing at the corporate point of view. It has a certain practical value to China Telecom to occupy the mobile payment market, increase user stickiness and further tap the customer value.This paper introduces mobile payment theory in detail, utilizes PEST analysis, SWOT analysis, and other means of tools, to analyze the macro and micro environment of business development. It finds out the core competitiveness of China Telecom to develop mobile payment services, clarifies the key competitive factors. Basing on China Telecom and its terminal sub company Tianyi’s development strategy, it proposes4P marketing strategy for mobile payment services, suggests to take YiPay as the leading brand, continuously develop new payment applications and medias that matches with China Telecom direction well; to further enrich the utilization scenarios, grab subscribers with low price without sacrifice of quality; to take full advantage of the extended sales channels which consists of Tianyi payment company, CT provincial companies and agencies; to enhance advertising and marketing efforts, default establishing account for new subscribers, preload client app in new devices.