Research On The Development Strategy Of The Bank Of China Ningbo Branch

After summarizing the development of credit card business of Bank of China Ningbo branch, this paperanalyses the advantages, disadvantages, opportunities and challenges of the Bank of China Ningbo branch itself,and puts forward the corresponding development strategies and safeguard measures.The development of credit card business of Bank of China Ningbo branch generally experienced fourhistorical stages: Market monopoly stage (1988years-1998years), Adjustment stage (1998years-2006years),Expansion stage (2007years-2011years), Intensive farming stage (2012years-present).Through SWOT analysis, the author summed up the advantages of Bank of China Ningbo branch asfollows：1.good brand image；2.the market share leader；3.varieties of products,4.relative flexible pricingmechanism；5.complete organization system;6.superior cross-border services7.significant rich Resources,etc, theweakness is:1. the customer base is not strong;2. the traditional commission growth is not fast;3.The target grouppositioning is not clear;4. Marketing is not in place;5.Service innovation is not enough;6. international cardadvantage is not obvious;7. internal marketing resources are not fully utilized,8.Installment payment potentialmining is not enough, etc, the opportunities is:1.the sustained economic growth；2.the urbanization promotionbring huge consumption potential;3.good credit cards accepted environment;4. the more card habits of usingcredit card;5.the trend of personal economic globalization is increasingly obvious;6.upgrading of the creditcard;7.sound risk control mechanism; etc, the challenges is:1.tcommissions are slashed;2.card volume has becomesaturated;3.creation is easily copied;4.credit risk is increasing;5.competition is fierce, etc..It is based on the above analysis that the author proposed six strategic initiatives:1.To create "internal andexternal balance" brand image;2.To fully implement the philosophy of both quantity and quality management;3.To focus on the development of "urban white-collar workers, small business owners, popular financialconsumers";4.To actively promote efficient marketing concept;5.To give full play to the role of joint marketingeffect;6.To promote the installment payment business. Finally, benefiting from years of credit card managementexperience, the author put forward the corresponding measures to guarantee the implementation of strategy.