Research On Personal Finance Product Marketing Strategy From CQ Bank Based On Life-cycle Finance Theory

Personal finance is an important means of promoting economic development andincreasing social welfare. Along with the continuous development of socialist marketeconomy and the on-going increase of national income, there is an increasingly strongdemand of personal finance. Commercial banks also pay more and more attention topersonal finance business. In order to have a big share of market in the intense competition,each big bank are releasing personal finance products, as well as upgrading personalfinance services. Under this background, the CQ Bank began its personal finance businessin recent years.In the increasingly fierce market competition, marketing is an important part ofenterprise’s management, and it is related to the survival and development of enterprise;marketing of personal finance products is related to the image, efficiency and developmentof the bank. In order to formulate correct marketing strategy, advanced theory is of greatneed. From the point of life cycle theory, the customer will arrange spending and saving atvarious stages according to the receipts and expenditures of the whole life, in order tomake a financial balance of the whole life and maximize the life utility. In foreigncountries, the theory has been widely used in the field of personal finance. At home, lifecycle theory has also gradually got the attention of financial institutions. This paper made aresearch on personal finance product marketing strategy from CQ Bank based on life-cyclefinance theory. I mainly used qualitative analysis method, added by the example method.This paper firstly reviewed on the life cycle theory, and summed up the basic theory ofmarketing. This paper then discussed the present situation of personal finance business ofCQ Bank and the development process, and during this part, I mainly analyzed the existingproblems. On the basis of theory and reality, this paper gave suggestions from the aspectsof customer classification, product design and concrete marketing methods. Finally, I gavesome security measures on the implementation of marketing strategy from the aspects ofusing theory, cultivating talents, constructing organization and creating environment.Today financial market is growing more and more prosperous, this paper will beadvantageous to individuals, banks and the whole market. For individuals, they can enjoymore high-quality financial services and reduce certain financial risk at the same time; forCQ Bank, this paper will help it to realize its shortage in personal finance products, and asa result, it can improve strategies timely and establish a good customer relationship. For the market system, this paper will help to improve the ability of commercial banks,rationalize the market structure and make a progress of marketing mechanism,thus topromote the healthy development of financial industry.