Research On Marketing Strategy Of Consumption Credit Business Of FAW Auto Finance

FAW Auto Finance Co. Ltd.(Referred to as FAW Automobile Finance), is part of the FAW Group's financial sector companies, which covers main business scope of automotive credit for FAW brands. It is a typical professional financial institution which provides both consumption credit and operation loan.Since its establishment in 2012, FAW Auto Finance Co Ltd. has grown rapidly, and has developed into one of the biggest ten auto finance companies in China.2015, China's economic development runs into ‘the new normal' era. Auto industry is not optimistic, while the growth rate of domestic car sales falls further. For automotive derivative service field, how to maintain a good business performance in the grim situation is a new challenging topic. Meanwhile, the reform of the interest rate market advances orderly. There is increasingly fierce competition in financial industry. With the implementation of Internet plus strategy, Internet financial impacts the traditional channel much, the financial industry is facing reshuffle pattern. In this paper, the writer selects FAW Auto finance's consumption credit business as the research object and marketing strategy as the research field. The writer reviews around the business situation and marketing situation(product, pricing, channel, promotion prospects) of FAW Auto Finance, positions the existing main problems as follows: standardized product is aggressively priced, product convergence, excessive dependence on manufacturers and intermediaries(dealers), online channel capacity is strong, and cross selling effect with car insurance business is not significant. Based on these problems, the writer analyzes the internal and external, macro and micro environment in SWOT analysis method, clears overall marketing environment and constraints, clarifies the marketing positioning in STP analysis method, and puts forward reasonable and feasible marketing strategy recommendations in product, pricing, channel, promotion, process and personnel prospects. Main suggestions include: carrying out risk pricing based on customer segmentation, developing more products, building star products, building brand effect, carrying out collaborative marketing strategy, enhance channel management capabilities.