Marketing Strategy Study Of BOCOM Based On Competition Positioning

In recent years, various types of joint-stock commercial banks and localcommercial banks have risen up, which impact continuously the market share of thefive state-owned banks, such as Industrial and Commercial Bank of China (ICBC),Bank of China (BOC), Agricultural Bank of China (ABC), China Construction Bank(CCB) and Bank of Communications (BOCOM). Under the competition mode ofbanking marketization, it has become a prerequisite for the survival of the bank tostabilize the current market share and expand major business and intermediarybusiness.With the spread of marketing modes, banking business has constantly updatedand developed. The passive marketing model of the five state-owned banks hasencountered unprecedented impact which just use a large number of clients. However,the transactions of fund transfer among banks have no longer been restrained. It ismore flexible for clients to attend the bank’s finance and investment. And it alsorequires more for the banking business.BOCOM is the first state-owned bank in transformed system. Compared withother four state-owned banks, such as ICBC, BOC, ABC, CCB, BOCOM has lessclients which can’t have innate advantages. And under the competition of othercommercial banks, such as China Merchants Bank, Shanghai Pudong DevelopmentBank, Industrial Bank Co. Ltd, China Everbright Bank, BOCOM is lack of flexibilitybecause of the properties of State-owned.This paper aims to analysis special situation of BOCOM in the banking sector,find out the development trend of BOCOM from the perspective of competitivepositioning and reposition the bank and clients groups which can raise the position ofBOCOM in the customs’ mind in the area of market share and customer satisfaction.By using a variety of marketing modes to change the existing situation of BOCOM,this paper analysis comprehensively internal and external environment andcompetitive advantages and disadvantages of BOCOM from marketing strategies,customer service management, cost management and internal control. According tothe current operation mode of BOCOM, This paper also designs a new marketingstrategy which combines theory with practice and makes a research in the marketing strategy of BOCOM’s achievements based on competitive positioning and discussespossibly for future research.