Research On Marketing Strategy Of Foreign Exchange For ICBC Changchun Renmin Square Branch

With the development of global economy, more and more multinationalcompanies increase the demands of foreign currency exchange in China. Accordingto the characteristics of exchange products, ICBC develops the advantaged foreignexchange product. ICBC Jilin branch aims at finding new market resource andincreasing the percentage of international business, to improve the acknowledge ofnew products and enhance the promotion, so that ICBC can win the competitivenessamong other banks. The Renmin square branch provides more preferential quotationand professional financial services, at the same time foreign currency product canalso increase the income from intermediary business. Making marketing strategy isuseful to increase international settlement of Renmin square branch, and combinebusiness no matter the inside or outside work. Through foreign exchange productmarketing, it can increase the profit both for customers and the bank, so that reachthe goal of increasing the competitiveness of Renmin square branch and aiming atimproving international settlement and intermediary business. The customers canobtain preferential exchange rates. Meantime, the branch can win recognition fromthe customers. With the promotion of the product, it not only enriches the diversityof international business, but also maximizes the profitability of intermediarybusiness. What’s more, this can save financial cost for the customers, which get theeffect of double win. The foreign exchange marketing can establish good image andbrand for the branch, which can give suggestion for other financial products.From the analysis of marketing situation on foreign exchange product in Renmin square branch, it is found that the existence of problems and limitation,mainly because the branch lacks of advertisement and marketing methods, and thebank does not focus on marketing. There are difficulties of dealing and a shortage ofbank marketer. There are too much similarity of products and disadvantages ofcompetitiveness. All of these lead to unsatisfied marketing effect. The reasons are theinaccurate of marketing position, more limitation, no complement of marketingmethod and fierce competition.To improve marketing strategy is based on the analysis of market environment.According to the macro-environment and micro-environment analysis,macro-environment includes economy, nature and technology, andmicro-environment includes marketing target, marketing branch and the opponents.With the method SWOT, the paper states the advantages are instruction ofinternational business brand, flexible policy. Disadvantages are fierce competitionand more choices for customers. Opportunities are good credit, business complement,more branches, preferential foreign exchange rates. Threats are bad position, lackingof marketer, no marketing position, imperfection of internet platform.At last through market segmentation we choose target market and marketposition, then make the accurate marketing strategy, the conclusion is drawn thatmarket is aimed at producing companies, and service industries also should be takeninto consider, other industries will not be ignored. At the same time, themultinational companies should be the important customers. It is helpful to designthe marketing strategy, and make sure the execution. In order to improve themarketing realization and skills, it is necessary to know the demand of customers,form the marketing team, create the green channel, and take the advantage, so thatRenmin square branch will become the professional bank in the internationalbusiness. To develop the foreign exchange products quickly, inner administrationshould be improved, and information platform should be built. This research is of great importance: the increase of foreign exchange can bring international settlement,which can give new ideas for marketing of foreign exchange products.