Research On The Marketing Strategy Of FAW Changchun Branch Of Bank Of Jilin

The Chinese edition of “Basel Agreement Ⅲ”,namely,“Guidance on ChineseBanking’s Implementing New Supervision Standards” was formally enforced in2013;it confirmed the policy framework of Chinese banking’s implementing newsupervision standards. The new capital adequacy ratio standard included in the newsupervision standards imposes long-term capital supplement pressure on banks; themobility supervision standard prompts the transformation of bank businesses;supervision standard of provision rate and leverage ratio suppresses commercialbanks’ impulse of credit expansion. The joint-stock commercial banks in our countryare facing stricter and stricter supervision and restriction, which is a huge challenge,especially to city commercial banks with limited capital scale, low brand value andsingular management tool. In order to develop in a steady, sustainable and healthyway, broaden the channel of capital supplement and promote the change of businesspattern, city commercial banks must deepen their understanding of marketingconcepts, devote more energy to marketing practice and enhance their corecompetitiveness, so as to occupy a position in market competition.Under the circumstance that city commercial banks have small scale, weak brandstrength, few channel advantages, unbalanced resource structure and that banks arepassionately competing for resources of good quality, this paper analyzed the macropolitical and economic environment, medium regional industry environment andmicro internal environment of FAW Changchun Branch of Bank of Jilin, summarizedthe current status of its marketing and the existing problems and designed targetedmarketing strategy plan.Firstly, after the one-month-long comprehensive survey on potential and existingcustomers, by combining the data and some feedback reports provided by a thirdparty, the author made the important conclusion that in the bank’s marketing management practice, there are problems including low brand value, weak controlover channel, backward promotion mechanism and low efficient service.Secondly, by taking literature review and the results of relevant academicresearch into consideration and on the basis of qualitative analysis, this article appliedPEST model to the analysis and summary of the micro environment of the researchobject; it was discovered that the general political, economic and social environmentof the research object is good and that there are concerns about technologicalenvironment; the competitive edge accumulated by traditional banking during a longtime, can be surpassed by competitors quickly with modern technology. By applyingMichael Porter’s Five Forces Model to the analysis and summary of the researchobject’s medium industry environment, the author noticed that the substitutes of theresearch object are quite threatening; monetary fund, automatic investment plan andRMB financial products are inclined to substitute the debt products of banks,imposing great threats on banks’ disintermediation. In addition, the author appliedstrategic resource model to the analysis and summary of the resources of personnel,finance, materials, organization, technology and business reputation and the internalenvironment of the enterprise, and found out that there is some improvement spacefor the resource value of the research object’s business reputation.Thirdly, in light of the results of the analysis on internal and externalenvironment and on the basis of quantitative analysis, this paper utilized STP modelin further division of the research object’s market, selection and orientation of targetmarket and finally fixed the orientation of serving as the helper of unit customerswhose wealth is growing and the fortune steward of individual customers whosewealth has reached a certain stable amount.Lastly, by combining the operation concepts and methods of outstandingfinancial service institutions like Shanghai Sub-branch of Hong Kong’s Hang SengBank, the bank card department of China Merchants Bank and HSBC’s village banks,the author extracted successful experience that FAW Changchun Branch of Bank ofJilin can learn from; besides, targeting at unit customers whose wealth is growing andindividual customers whose wealth has reached a certain stable amount, the authorproposed systematically countermeasures that can optimize the bank’s marketing strategy and achieved the research objective.The research aimed at further exploring and optimizing the market strategysuitable for joint-stock commercial banks and providing some thinking andsuggestions for city commercial banks on the four aspects, including theestablishment of brand image, the strengthening of channel construction, theoptimization of promotion mechanism and the improvement of physical evidence andprocess management.