Research On The Marketing Strategy Of The Cash Management Business Of Bank A's Inner Mongolia Branch

With the continuous development of the economy,the demand for cash management of enterprises is no longer confined to simple deposit,loan,and payment services,but more and more attention is paid to how to plan and use funds more rationally so that limited funds can produce the greatest value.Under such circumstances,Bank A needs to continuously update its own cash management products on the premise of fully understanding the market demand,making the types and functions of cash management products more diversified in order to meet the different needs of different companies for cash management.This paper first analyzes the background of bank A’s cash management business,then lists the functions of bank A’s cash management products and analyzes its current strengths,weaknesses,opportunities and threats.Through analyzing the existing customer situation in target market,it was found that there are some problems in the cash management business of Bank A Inner Mongolia Branch,including concepts are old,clear market positioning is lacking,service levels needs to be improved,product innovation is insufficient,and marketing intensity is not enough and so on.As a result,Bank A Inner Mongolia Branchs cash management businesss customers growth is sluggish,the achievable functions are limited and the overall contribution of customers is low,which hinders the development of Bank A Inner Mongolia Branchs corporate cash management business.Based on this,this paper uses STP theory to subdivide the existing market according to customer scale,billing cycle and industry access strategy and determines three types of target markets based on customer demand,ease of market entry,and achievement of comprehensive income levels.After starting from the main needs of the target market,the target market will eventually be positioned "in the premise of appropriate financing,providing customers with flexible,convenient and high-yield cash management services"Based on the above target market positioning,according to the 4P’S framework,this paper puts forward corresponding recommendations from four aspects: product strategy,price strategy,channel strategy,and promotion strategy.The product strategy includes: making moderate credit extension as an entry point,providing a flexible anddiversified product portfolio,mass promoting ”party fee steward” business,and offering a convenient online banking platform to appropriately match high-yield wealth management products;The price strategy includes: account-related fee reductions,preferential price systems,and cash management product fee discounts;Channel strategies include: establishing a tiered marketing system,carrying out centralized marketing for existing credit customers and forming a driving effect of the industry chain,improving the quality of personnel,and upgrading professional standards;promotion strategies include: carrying out the credit granting customers free experience of cash management service activities,product promotion meetings of different scopes and levels,mainly promoting product features,making micro-promotional videos,and vigorously promoting high-yield wealth management products.