The Channel Construction And Marketing Strategy Of The Commercial Banks Upon Internet Finance

With the development of financial liberalization, commercial banks are facing more and more domestic and cross-border competition. The innovation of commercial banks, the increasing demand of customers and the enhancement of core competitiveness are key issues of scholars. Numerous essays believe channel construction,being the connection between customers and commercial banks, will be an important means for enhancing the core competitiveness of commercial banks. The channel construction can increase customer dependence, extend market and improve profit, finally achieve sustainable development.In recent years, as a new economic mode, internet finance appears in daily life. By mobile payment platform, P2P credit platform and online business platform, internet finance can be applied into every aspect of people's life. Because of its reasonable price, low barrier and convenient payment, internet finance becomes popular among customers. On one hand, internet financial enterprises are threatening commercial banks, on the other hand, the internet financial trend provides marketing strategies for commercial banks. Regulations and laws are formulated and promulgated by the State Council, China Banking Regulatory Commission and the People's Bank, promoting the cooperation between commercial banks and internet financial enterprises by fund management. customer identification and risk control.Firstly, this paper reveals the realistic and theoretical background for the channel construction of commercial banks. The second part elaborates the theoretical basis for internet finance, including the long tail theory and the economic development theory. Then the paper defines internet finance and the channel construction of commercial banks. Furthermore, the paper studies the impacts by internet finance for commercial banks on channel construction and articles on channel innovation and channel construction.The third part firstly discusses the four development modes for internet finance. Then the paper explains the status of internet finance by the trading volume and market share of mobile payment platform. The paper illustrates the status of channel construction by the statement of physical branches, self-service branches and the online channel. Furthermore, this paper considers the influence of commercial banks by internet financial enterprises on technology application, marketing modification and product innovation.According to SWOT mode, the forth part analyses the strengths, weaknesses, opportunities and threats of channel construction by commercial banks in internet finance trend and discusses the resources of commercial banks. The fifth part uses the Porter five forces model to show the competitive environment via the bargaining power of suppliers, the bargaining power of customers, the intensity of competitive rivalry, the treat of new entrants and the threat of substitute.The sixth and seventh parts are the main parts of this paper, which analyze the channel construction and innovation strategies. The paper presents the following steps on channel integration, including the establishment of online and offline channel groups, data mining, the promotion of comprehensive development, the public education on financial security, the brand strategy, the acceleration of overseas channel construction and cooperation,the establishment of internal pricing mechanism, the improvement of online risk control and the achievement of online and offline credit rating system.For channel innovation, this paper studies the following issues:the cross-border cooperation with software vendors, mobile providers and online payment platform; the mix between supply chain and financial industry; the development of inclusive finance; the improvement of evaluation mechanism; the unstructured data mining and the improvement of product combination and cross-selling.This paper focuses on the channel construction of commercial banks, and systematically views different channels as a whole. The paper explains marketing strategies by analyzing the competitive environment and the resources of commercial banks. It can promote commercial banks to reform channel construction.enhance the core competitiveness and maintain sustainable development.