Research On Marketing Strategies Based On ABC Branch In Shandong Province

The high erogeneity, leverage and risk of banking industry determine its inherent fragility. For example, the south-east Asian financial crisis of1997, American subprime crisis and bankruptcy of British Bahrain resulted from its dealer’s illegal operations. In the post-financial-crisis era, China’s commercial banks are facing many problems, such as the long-term complexity of external environment and the uncertainty of economic trends. In particular, the competitions in the same industry make things more difficult for domestic banks. Recently, with the financial reforms speeding up in China, interest rate marketization has become an inevitable trend and the competition between banks will be more and more severe. Agricultural Bank of China(ABC), the last of China’s big state-owned banks to float on the stock market, is one of the comprehensive financial service providers in China. Therefore, the deep study on marketing strategies has important realistic meaning for ABC’s survival and development.According to the current economic situation at home and abroad and banks’ long-term trend of development, this paper, on the basis of large amounts of investigations and researches of ABC branch in Shandong Province, analyzes its current marketing situation and points out the existing problems and the reasons to these problems. This article also provides a comprehensive analysis of market conditions faced by commercial banks with the help of PEST, Porter’s Five Force and SWOT, and expounds the influence of macroeconomic and microenvironment environment on banks’marketing strategy. After that, it makes a systematic study and argumentation of commercial banks’marketing combined strategies, including product strategy, price strategy, place strategy and promotion strategy. Then it suggests that in terms of product strategy, ABC branch in Shandong needs to accelerate the innovation of its products and supplies differential and systematic banking products for the customers to improve its coverage; based on the price strategy, it needs to speed up the structure modification and carry out different marketing strategy; by place strategy, it should apply more diversified distribution channels and expands the marketing channels such as online bank and direct marketing to enhance its market share; on promotion strategy, it needs to increase the promotion of public relations. Furthermore, the paper puts forwards the safeguard measures on human resources, financial affairs, information systems and risk management to ensure the effective implementation of marketing. I hope the research can help to improve the overall competitiveness of ABC branch in Shandong Province and achieve its goal of becoming the first-class bank in China.