Research On The Market Competition Strategy Of RSST Bank

In recent years, with economic development and the deepening of financial sector reform, China’s banking industry experienced a dramatic and profound changes. After joining WTO, the banking competition is heating up. After years of rapid development in the local market, RSST Bank occupies a certain market share, but also faces enormous challenges. How to maintain sustainable competitive advantages in the competition has become the most important issue for the RSST Bank to be resolvedThis article is research on the basic competitive strategy of RSST Bank. In this paper,SWOT analysis, Porter’s competitive strategy theory, the macro environment of RSST Bank, industry environment and internal resources and capabilities are analyzed and evaluated. From the external environment analysis, China’s social, economic, cultural,technological development and people’s financial consumption level, the banking industry has brought tremendous development potential; but the market competition, technology,product upgrading faster, also posed a serious challenge to the banking industry. From internal resources and capacity analysis, the network resources, channel resources, brand resources, customer resources and product development capabilities of RSST Bank has some advantages, but has weakness in the area of operating system and business processes.How to make up for lack of competition in the market through the development of accurate strategy to improve the competitiveness of products the priority for RSST Bank. Based on the analysis of the applicability of the three basic strategies, RSST Bank should put into effect the differentiation strategy under the control of cost as their competitive strategy. To safeguard the smooth implementation of competitive strategy, list the four safeguards.RSST Bank is one of the most representative and typical banks in the local commercial banking market. This paper intends to propose strategy and methods for other banks on the market through the research of competitive strategy of RSST Bank.