A Study On 4V Marketing Strategy For Private Banking In China

As the gradual increment of the population of high-net-worth clients in China,various banks launch private banking service and consider it as a significant part in development of upcoming retail business.City commercial banks have taken a solid market position in the Chinese financial market since it first established in 1995,however,they still have weakness such as vague marking positioning,narrow business scope,incomplete internal system and alike.This paper focuses on how the city commercial banks take part in the business of private banking and develop their particular marketing competitive advantage under the circumstance that state-owned banks and large joint-stock banks actively develop private baking service.This paper uses 4V marking theory as a tool to thoroughly investigate the development of private banking in the city commercial bank from four terms,i.e.,variation,versatility,value and vibration,analyzes from points such as product structure,service focus,formation of advantage in differentiated competition by using reference and case analysis,and has positive reference value to the decision-making in the development of private banking service for the city commercial bank.Moreover,this paper further points out that,the city commercial banks with small market and low budget should focus on business professionalizing and establishment of “professional” brand image,extend the service function,and provide the clients with distinctive professional value-added service so as to distinguishing themselves from the competitors.