Research On The Application Of Differentiated Marketing In China's Credit Card Marketing

With the development of China?s economy,credit cards have been widely used in the field of financial consumption.In 1985,the first credit card-BOC card was issued in China?s history,and it has gone 30 years since then.The domestic credit card business has been booming developing,and entered into intense competition.Forecast to 2025,China's middle class is expected to reach 520 million,covering more than half of China's urban population.The total disposable income will reach $13 trillion and 300 billion.At time goes by as well as the gradual improvement of China's financial market,there will be more and more people agree with the credit card products and credit card additional financial services.With such a huge potential customer groups,each issuing bank has staking on the credit card products.On one hand,consumers can have more choices.But at the same time,the credit cards are not a status symbol,so consumers do not want them like before.Now the credit card market has begun to shift from Seller's market to buyer's market,and the issuing banks are under more pressure than ever before.China's credit card industry is facing unprecedented challenges and impact.But at present,China's commercial banks still focus on the quantity but not quality.And the homogenization problem is still serious.The development of China's credit card industry must face up to the existing problems,so as to actively adjust the marketing strategy.It should also try to reach international standards as soon as possible,so as to achieve differentiated and professional marketing.This essay starts from the background and significance of the research firstly.Then it introduced the related theory of differential marketing(including STP theory and 4PS theory)and the present situation of the research in china and abroad.By analyzing the history of China?s credit cards and the current situation of our country,it concludes to the serious problem of homogenization in the marketing.In the deep research of the marketing cases of American Express Company,JCB Company,Citibank and Taishin bank and the theory of differential marketing,this essay puts forward some concrete suggestions on the price differentiation,the brand differentiation,the service differentiation,the product function differentiation and the promotions differentiation for China's credit card marketing.