Analysis Of Marketing Strategies On Personal Financing Products Of Rural Commercial Banks

As local financial institute, rural commercial banks, which were reorganized from rural credit cooperatives, are the primary financial force of China along with other banks. The urbanization process creates huge need for personal financial service, resulting in huge potential in this service. Personal financial products issued by rural commercial banks have become the very first choice when people consider personal financial management. However, although there is no substantial difference in operation and management system between rural commercial banks and other banks, the former ones have less capital available.Under such circumstance, taking Foshan Rural Commercial Bank as an example, this paper brings out that rural commercial banks should base on overall development goal. In the first place, this paper deeply studies marketing strategies, including marketing mix strategies developed from 4Ps, 4Cs and 4Rs, 7P theory from bank marketing theory and target market theory, and takes analysis model used in those theories as theoretical foundation. Secondly, the paper takes Foshan Rural Commercial Bank as an example, and comprehensively analyzes its personal financial products. As a member in personal financial products sales department Foshan Rural Commercial Bank, the author analyzes the current marketing situation of personal financial products through questionnaires, followed by SWOT analysis focusing on strength, weakness, opportunities and threat. Lastly, experimental summary method, empirical analysis, theoretical analysis and comparative analysis are used to analyze existing problems in personal financial products, such as lack of variety, lack of outstanding brand strategy, singular investing channel, outdated financial operating system and singular selling channel and methods. The paper illustrates how Foshan Rural Commercial Bank defines marketing strategies of its personal financial products, including classification of markets before choosing the strategy, selection of target market and other preconditions, based on which the paper brings out detail strategies from four prospect---- product, price, promotion and place. This paper is hoped to serve as a reference for Foshan Rural Commercial Bank on marketing work of personal financial products and to provide a new way of thinking for other rural commercial banks on their marketing strategies for personal financial products.