Research On Service Marketing Strategy Of State-Owned Commercial Bank Outlets Transformation

Since 2000,the commercial banks in china have begun to deploy and implement the outlets transformation strategy.In this period,they experienced the change from “hardware transformation”,which is to transform the environment of bank outlets,to “soft transformation”,which is based on the transformation of business philosophy and optimization of service process.With the further promotion of market-oriented interest rate,the widespread popularization of Internet finance,the constant innovation of intelligent technology and the inevitable trend of financial disintermediation,the traditional advantages of the state-owned commercial bank outlets have been greatly affected.On the one hand,more and more customers choose to enjoy convenient and intelligent services through electronic channels.It is imperative to reform the bank outlets with electronic technology.On the other hand,the demand for customer financial services is also changing day by day,from a simple financial trading model to more specialized,differentiated and personalized financial services.So as service platforms that provide face-to-face interaction between people physical outlets remain irreplaceable.Based on the purpose of satisfying the financial needs of clients under the new era,state-owned commercial banks should promote the transformation of their outlets into outlets that are intelligent,community-based and experiential-oriented by means of enhancing their service marketing level,make their networks as a platform for customers to experience financial services.This paper chooses S sub-branch of ABC,one of the state-owned commercial banks,as an example to study the problems existing in the transformation of outlets and the service marketing strategies that can be taken to promote the outlets transformation.This paper first cites the theoretical basis of service marketing and outlets transformation,discusses the network transformation cases of domestic and foreign commercial banks and draws lessons from the research below.The ultimate goal of the transformation is to achieve "customer-centric" and the means of realization is service marketing.Second,this paper through the field investigation,collecting customer questionnaires,business data analysis and other means to study the current network transition process of the Agricultural Bank of China S sub-branch.While affirming the current transformational advantages,it is also found a series of problems such as hardware facilities can't reach the standards of transformation,product homogeneity serious,the cost can't meet customer requirements,service capabilities stay at a lower level,staffing can't match the service process.Finally,through the above analysis,combined with 7Ps service marketing theory,this paper proposes targeted service marketing strategies from seven aspects of product,price,place,promotion,people,physical display and process control.And establish the preferred financial platform for customers to conduct financial consumption and service experience through these ways,further promote the process of outlets transformation.The essence of outlets transformation is “customer-centric” which is transformed from “transaction accounting” to “service marketing”.Therefore,service marketing plays an important role in outlets transformation.And the 7Ps theory which is based on the service marketing can help the S sub-branch of ABC transition to intelligent,community-based and experiential outlets successfully.The main contribution of this paper is to propose a series of service marketing strategies based on the 7Ps theory to provide reference for S sub-branch of ABC transformation.However,due to the limited internal data,the analysis has certain limitation and applicability.