Research On The Marketing Strategy Of Small And Micro Credit Business Of Bank Of Communications Jiangsu Provincial Branch

In recent years,with the economy of foreign continuing to be sluggish,the speed of domestic economic growth has also slowed down.Along with supply-side economics' reform,the development of small and micro enterprises,which is closely related to the national economy and the people's livelihood,has become the focus of the public.Many measures have been put forward by the government and relevant functional departments.For one thing,it actively reduces the burden of small and micro enterprises on financial tax and guides the innovation development of small and micro enterprises;for another thing,financial regulatory agencies introduce a lot of policies and requirements that is encouraging commercial banks to help small and micro businesses.By doing so,the government can solve the most difficult financing problems of the current small and micro enterprises,and then implement the transition and upgrade in the real economy.As a commercial bank,it should respond to the government's call and complete the indicators issued by the regulatory agency.Because of the economic slowdown,the traditional profit model was affected by the impact of banks and non-bank financial intermediaries.Commercial bank needs to find new profit growth point to maintain its sustainable development,and then small and micro businesses credit business has become the focus of the development of many commercial banks.Under this background,the topic of this paper is the research on the marketing strategy of small and micro credit business in Bank of Communications(Jiangsu Provincial Branch).(The Bank of Communications will be referred to Jiangsu Branch for short.)This paper mainly adopts literature research method,investigation method and model analysis method.It also applies many analysis model and theory,such as PEST analysis model,SWOT analysis model,STP and 4P marketing theory.Combining my work experience,I analyze the marketing problems of small and micro businesses in Jiangsu Branch and put forward my own suggestions and countermeasures.This paper was divided into seven chapters.The first chapter introduces the background,significance of the study,thinking,research methods,content,framework,characteristics and innovation.The second includes the theories of credit business and marketing in small and micro enterprises.The third starts with the overall development of the small and micro credit business in Bank of Communications(Jiangsu Provincial Branch).From these four aspects:product,price,channel and promotion,I used 4P marketing strategy to analyzed the problems in the small and micro credit business marketing in Jiangsu Branch.In the forth chapter,throughthe analysis of macro and micro environment and the using of the SWOT analysis model,I have drew a conclusion of Jiangsu Branch's micro-enterprise credit business,including the current advantages,disadvantages,opportunities as well as the challenges.In the fifth chapter,I use STP to analyze and then choose the target market of Bank of Communications small and micro enterprise credit business.In Chapter Six,based on the problems encountered in small and micro credit business in Bank of Communications,I combine the foregoing analysis and research to propose targeted strategies and recommendations.In the seventh chapter,I come to a conclusion of this paper and look forward to the future development of small and micro credit business.Through the study of this paper,we can get the following conclusion:1.The problem of micro-enterprise credit business in Jiangsu Branch is reflected in the use of conservative products,slowly updated product,low approval efficiency and low degree of product information.Price standard is single and it is lack of flexibility and autonomy.Channel outlets setting is unreasonable.The level of client managers varies greatly.Different team interaction is insufficient.Third-party channels underutilized.Promotional tools is traditional and it does not focus on the real needs of customers.2.The advantage of Jiangsu Branch to carry out micro-enterprise credit business lies in good customer base.It has a good reputation in the local area and has used differentiated assessment methods to micro-enterprise customer managers.The disadvantage is mainly about marketing staff lack of professionalism,low efficiency of organ approval and the lacking of product innovation ability.Opportunities are mainly due to the better macro environment,universal and effective use of information means and the relative concentration of some small and micro customer groups.The threat lies in the impact of interest rate marketization,as well as the deterioration of the financing environment after the slowdown of economic growth,then we have come up with suggestions that SO development strategy should be adopt.3.The market segmentation of micro-enterprise credit business in Jiangsu branch is mainly based on the size of the company,the type of industry,and the life cycle of the company.The target market focuses on the key fields that national industrial policy support,as well as the customers with certain competitive advantages,market shares,and sufficient orders in the region's key development industry.Banks focus on serving small and micro enterprise customers in the growth and maturity stages,and ultimately achieve market positioning "three advances and three retirements".4.In Jiangsu branch's credit business marketing strategy suggests that from the aspect of products,it is necessary to actively combine existing products,and focus on accelerating product development,while accelerating the efficiency of approval and using information methods well.From the aspect of price,it isnecessary to accurately derive relevant rating data,and fully consider the differences in types,methods,contribution,industry?area where the company is located and market prospects of financing;From the aspect of channels,it is necessary to improve the distribution of outlets,strengthen cross-selling,focus on business districts,industrial parks,and marketing.it also suggests that Jiangsu branch should carry out cooperative marketing with core companies and attach importance to existing customers,as well as third-party agency's referral channel,and make good use of network service means.From the aspect of promotion,effective propaganda should be adopted and diversified promotion methods should be used to improve the service awareness of small and micro enterprise marketing staff.In the implementation of these proposals,we must also pay attention to the construction of the credit business team,establish a good incentive mechanism and a certain degree of tolerance,and promote the implementation of credit marketing through rigorous risk management.Through the research of the small and micro credit business in Bank of Communications(Jiangsu Provincial Branch),I hope this article would provide certain reference value for the banking industry to develop credit business for small and micro enterprises.