Research On Marketing Strategy Of Gold Business Of Industrial And Commercial Bank Of China Hebei Branch

Facing with the opening gold market, the Industrial and Commercial Bank of Chinamaintains its leading position and occupys the largest market share in the area of gold businessabsolutly supassing other commercial banks, and has become the first commercial bank withcomplete trade line of account gold products. The research object of this article is gold businessof ICBC Hebei Branch. First, what the gold business operating enviroment is: the demesticeconomy grows smoothly with flourished information and advanced technology, and thedisposable income of residents continue to increase, while the disadvantageous marketsupervision and the potential investment risks existing to some extent which hinder thedevelopment of gold market.Secondly, the present gold business marketing situation is introduced: to take the customeras the core of business, the ICBC Hebei Branch occupy a leading position by virtue of goodbrand image and rich gold products. But problems also exist in the process of drawing up andcarrying out the marketing strategy, such as less of product differentiation, lack of priceflexibility, imperfect of distribution network, lack of long-term promotion, unconspicuouscompetitive advantage and weak services and so on. In this article, the author points out theopportunities and challenges Hebei Branch faces using the SWOT analysis through analysing theenvironment both inside and outside of the branch and questionnaire survey. Depending on itsown advantages and using the external opportunity, the Hebei Branch will build diversifiedplatform and promote structural adjustment by developing so strategy.Thirdly, the Hebei Branch should undertake market subdivision policy focusing on high-endcustomers by using STP theory. The author puts forward different marketing strategy accordingto the reasonable market positon with the future development trend which will create moreindividual products and optimize brand image aiming at serve different customers.Finally, the author studies the marketing combination theory and establishes a basket oftactics of price, channel, promotion and service for the development of gold business of HebeiBranch. Meanwhile they should extent their services, promote service quality, enhance riskmanagement and formulate effective advertising and popularizing policies. The author alsomentions some reasonable suggestions on how to establish marketing ideas, to establishscientific marketing mechanism, to simplify transaction procedures and to provide technicalsupport.What the author studies in this article on the marketing strategy of gold business based on the actual situation of Hebei Branch will be important to expand the branch’s market share andhas referential significance to other commercial banks.